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A STUDY ON AWARENESS LEVEL OF PRADHAN MANTRI MUDRA YOJANA IN

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PIMT
Journal of Research
Volume-13, No-3 (A) (April-June) 2021
ISSN No: 2278-7925 UGC Care Listed Journal
PATRONS
Sh. Naresh Aggarwal, Chairman
Sh. Raj Kumar Goyal, President
Sh. Nitin Saggar, Secretary
EDITOR –IN- CHIEF
Dr. Manisha Gupta, Director
Published By
Punjab Institute of Management & Technology
(Estd. In 1997, Approved by AICTE, New Delhi, Affiliated to IKG PTU, Jalandhar)
(Near GPS, Mandi Gobindgarh) Vill. Alour, Khanna -141401, Distt, Ludhiana, Punjab, India
PUNJAB INSTITUTE OF MANAGEMENT & TECHNOLOGY
AIMS AND SCOPE
The PIMT Journal of Research (PIMT JR), a peer-reviewed refereed journal, started in March, 2008 is the Quarterly publication
of the Punjab Institute of Management and Technology, Khanna. The main aim of this journal is to disseminate knowledge and
information in the multidisciplinary areas. The journal focuses on pure empirical, applied and interdisciplinary research in
different areas. The journal is intended to provide forum for debate and deliberation for academics, policy planners, and research
students of MBA and MCA programs. The PIMT Journal of Research publishes articles, research papers, abstract of doctoral
dissertations, book reviews, case studies, short communications and bibliography in multidisciplinary or allied areas.
EDITORIAL BOARD ISSN No: 2278-7925

PATRONS
Sh. Naresh Aggarwal, Chairman
Sh. Raj Kumar Goyal, President
Sh. Nitin Saggar, Secretary
EDITOR –IN- CHIEF
Dr. Manisha Gupta, Director
EDITORIAL TEAM
Dr. Neha Mahajan , Editor
EDITORIAL ADVISORY BOARD

Dr. Rajib Doogar, University of ILLINOIS, USA
Dr. Jeremy Cripps, Heidelberg College, Ohio, USA
Dr. Ravi Sen, Texas Ad M University, USA
Dr. Mahesh Joshi, RMIT University, Melbourne, Australia
Dr. Revti Raman, University of Auckland, Newzeeland
Dr. Khwaja Amjad Saeed, Pro Vice- Chancellor (Retd.), University of Punjab, Lahore, Pakistan
Prof. H.L.Verma , Guru Jambheshwar University of Sciences & Technology, Hissar
Prof. G.S Batra, Punjabi University, Patiala
Prof. R.K.Mittal, GGS Indraprastha University, Delhi
Prof. Ajay K.Rajan, MD University, Rohtak
Prof. D.D. Arora, Kurushetra University, Kurushetra
Prof. Raghbir Singh, GND University, Amritsar
Prof. Yogesh Singh, GGS Indrapstha University, Delhi
Prof. S.K. Chadha, Punjab University, Chandigarh
Prof. M.K. Jain, Kurushetra University, Kurushetra
Prof. P.K Sharma, Director, Kota Open University, Kota (Rj.)
Prof. D.P.S. Verma (Retd.), Delhi University, Delhi
Prof. S.K. Singla, Director, GNA- IMT, Phagwara
Prof. S.L.Gupta, Director, Birla Institute of Technology, Mesra, Ranchi
Dr. Nawab Ali Khan, EX-Dean, Faculty of Commerce, Aligarh Muslim University
Dr. Pooja Mehta, Assistant Professor, IKG PTU, Kapurthala
Dr. Neena Seth Pajni, Principal, GPC, Alour Khanna
Dr. K.K Sharma, Associate Professor, A.S College Khanna
Dr. S.K Mishra, Registrar & Head –Centre of Continuing Education, Dr. B.R Ambedkar National Institute of
Technology, Jalandhar, Punjab
Dr. Rohit Bansal, Assistant Professor, Dept. of Management Studies, Vaish College of Engineering, Rohtak, Haryana
CMA (Dr.) Rajni Bansal, Assistant Professor, Chitkara Business School, Chitkara University, Rajpura, Punjab
Dr. Dinesh Tondon, Assistant Professor, Chitkara Business School, Chitkara University, Rajpura, Punjab
©All rights reserved with Punjab Institute of Management & Technology, Vill. Alour, Khanna, Distt. Ludhiana, Punjab, India
Published by Dr. Manisha Gupta, on behalf of Punjab Institute of Management & Technology, Vill. Alour, Khanna Distt. Ludhiana.
Printed by National Press Associates, New Delhi
From the Editor’s Desk
I am pleased to place before the readers this issue Vol-13, No.3 (A) (April-June) of PIMT Journal of
Research (UGC Care listed Journal), a publication of Punjab Institute of Management and Technology,
Village Alour, Khanna. The response from the contributors of research articles has been overwhelming. The
PIMT Journal of Research presents an academically proficient blending of research articles, short
communications, book reviews and doctoral dissertation abstracts. The significance of Management and
Information Technology has become very well founded all over the world. These fields are witnessing rapid
challenges and changes in the face of globalization forcing researchers, academicians and practicing
managers to keep them updated on the latest advances in multidisciplinary areas. To promote exchange of
ideas among the scholars and practicing managers in the field, PIMT has launched the PIMT Journal of
Research. The Journal reflects a keen interest and sustained efforts of researchers, academicians and
professionals who have covered wide spectrum of contemporary issues in multidisciplinary & its allied
areas. We appreciate the efforts put in by the researchers in terms of quality research work done by them and
versatility in the methodology adopted in their research work.
We also express our gratitude to the reviewers of the various articles and contributors of the doctoral
dissertation abstracts for giving their valuables contributions, comments and the suggestions for the
enrichment of this journal. I thank and look forward to their continued association and support to PIMT
Journal of Research.
Our commitment to the cause of promoting high quality research work in multidisciplinary areas that will
contribute to enlighten our readers in the times to come.
The Chairman Sh. Naresh Aggarwal, President Sh. Raj Kumar Goyal, Secretary Sh. Nitin Saggar, and other
members of Governing Council of the Institute have taken the keen interest in this academic endeavor. I am
extremely grateful to them for their continued guidance and support.
Dr. Manisha Gupta

Editor-in-Chief
PIMT, Alour, Khanna
CONTENTS
1. IMPACT ASSESSMENT OF COVID-19 (PANDEMIC) ON SELECTED PLAYERS IN ORGANIZED

HOSPITALITY & TOURISM SECTOR IN INDIA AND ROADMAP FOR THEIR RECOVERY
Sanjeev K. Bansal, Anil Kumar Angrish, Roopali Batra 1
2. A STUDY ON THE SPECIAL ISSUES OF CULTURAL TOURISM IN KERALA

Pradeep Kumar P.S. 7
3. ETIOLOGY OF CHILD LABOUR: ECONOMIC CONSTRAINTS AND JURISPRUDENTIAL NECESSITY

Manjinder Gulyani 14
4. A STUDY ON SERVICE QUALTY OF SELECTED HEALTH INSURANCE INDUSTRY IN PUNJAB AND

UNION TERRITORY OF CHANDIGARH
Reetu Devi, Baldeep Singh 18
5. EMPLOYEE DEVELOPMENT AND QUALITY OF LIFE: TLF APPROACH

Ankita Singh, Rajesh Singh, Bijendra Kumar Pushkar 23
6. ASSESSMENT OF MD&A READABILITY USING FLESCH READABILITY FORMULA: A STUDY OF

INDIAN COMPANIES
Vijay Singh, Himani 29
7. AN EMPIRICAL STUDY OF PRODUCT EVALUATION BY INDIAN CONSUMERS WITH REFERENCE TO

INDIAN PRODUCTS VIS-À-VIS FOREIGN PRODUCTS
Gaganpreet Kaur Kaushal, Ratinder Kaur 34
8. A REVIEW ON DEVELOPMENT OF SMART CHATBOT USING NATURAL LANGUAGE PROCESSING

Kandi Surendra Reddy, Mubashir Farooq, Burle Naga Sree Rama Sunil, Tatineni Dheeraj Chowdary 39
9. FEATURE BLENDING FOR AUGMENTED CLASSIFICATION ACCURACY WITH RESTRICTED

TRAINING IMAGE DATA
Khushbu Kumari, Rik Das, Pankaj Kumar Manjhi 43
10. AN EXPLORATORY STUDY ON THE DIMENSIONS OF WOMEN’S ECONOMIC EMPOWERMENT

Swati Rohatgi, Navneet Gera 51
11. SCHOOL EXPERIENCE PROGRAMME: PATHWAY FOR PROFESSIONAL DEVELOPMENT OF

INTERNS
Aarti Devi 57
12. ENDURANCE OF OEMS THROUGH EFFECTIVE HRD CLIMATE

Chirag V. Vyas 60
13. REAL EARNINGS MANAGEMENT ACROSS FIRM LIFE CYCLE: AN EMPIRICAL ANALYSIS IN THE
INDIAN CONTEXT
Khushboo 65
14. EVALUATING WORKFORCE EXPECTATIONS AND SATISFACTION WITH TRAINING PRACTICES OF

PUNJAB TOURISM INDUSTRY
Ramanpreet Kaur, Manju Mittal 72
15. ATTRIBUTES OF BUYING BEHAVIOUR FOR FASHION APPAREL: AN EXPLORATORY STUDY

Sunita Gupta, Renu Yadav 77
16. A REVIEW ON PREDICTING STUDENT’S GRADE USING MACHINE LEARNING TECHNIQUES

Sourav Kumar Tanwar, Mubashir Farooq 83
17. A STUDY ON IMPACT OF GLOBAL STOCK MARKET INDICES ON INDIAN STOCK MARKET INDICES
N. Venkatesh Kumar, M. Ganesh Babu 87
18. DEMOGRAPHIC VARIABLES AND THEIR RELATIONSHIP WITH LIFE SATISFACTION: AN
EMPIRICAL STUDY OF MILLENNIALS OF DELHI, INDIA.
Pushpinder Singh, Inderpreet Sandhu 92
19. AN ANALYSIS BETWEEN THE RELATIONSHIP OF PERCEIVED ORGANIZATIONAL POLITICS AND

DEFENSIVE SILENCE IN INDIAN PRIVATE SECTOR BANKS
Balbir Singh, Meenakshi Malhotra 97
20. AN EMPIRICAL STUDY ON WORK ENGAGEMENT OF REMOTE WORKFORCE

Aditi Sharma, Vijesh Chaudhary 103
21. ASSESSMENT OF EMOTIONAL INTELLIGENCE AND ORGANIZATIONAL COMMITMENT: A

SYSTEMATIC REVIEW
Priyanka Sharma, Sandeep Singh 107
22. DEEP LEARNING FOR DIGITAL PATHOLOGY USING REPRESENTATION LEARNING

Arockia Liborious, Anish Anurag, Govind Kumar Jha 111
23. A CRITICAL REVIEW OF THE APPLICATION OF MASLOW'S MOTIVATION THEORY IN INDUSTRY

Rajesh Kumar 117
24. WATER RESOURCE MANAGEMENT AND SUSTAINABLE DEVELOPMENT IN INDIA: AN OVERVIEW

Thipperudrappa.E, Dhananjaya.K.B 122
25. CAUSALITY AMONG BANKING STOCK PRICES AND MACRO ECONOMIC VARIABLES IN INDIA: A
POST 2008 SUB-PRIME LENDING CRISIS SCENARIO
Shukrant Jagotra, Harpreet Singh, Amanpreet Singh 127
26. ANALYSIS OF VARIOUS MACHINE LEARNING ALGORITHMS FOR HEART DISEASE PREDICTION
Ravi Choubey, Pratima Gautam 132
27. A STUDY ON AWARENESS LEVEL OF PRADHAN MANTRI MUDRA YOJANA IN SHIVAMOGGA

DIST. KARNATAKA
Anjesh H L, Veershetty G Rathod 136
28. ANALYSIS OF IMPACT OF DEMONETIZATION ON THE AUTOMOBILE INDUSTRY IN INDIA

Rishu Jain, Rohit Kumar 141
29. GENETIC CLUSTERING TECHNIQUE

M. Jagadheeswari 146
30. EMPLOYEE MOTIVATION IN THE SERVICES SECTOR: PYTHON PROGRAMMING APPROACH

Priyanka Kumari, Rajesh Singh, Priyanka Rai 150
PIMT Journal of Research
Volume-13, No-3 (A) (April-June) 2021 UGC Care Listed Journal
PP: 1-6 ISSN No: 2278-7925
IMPACT ASSESSMENT OF COVID-19 (PANDEMIC) ON SELECTED
PLAYERS IN ORGANIZED HOSPITALITY & TOURISM SECTOR IN INDIA
AND ROADMAP FOR THEIR RECOVERY
* **
Sanjeev K. Bansal Anil Kumar Angrish ***Roopali Batra
*
Assistant Professor, Department of Management, I.K.Gujral Punjab Technical University,
Main Campus, Kapurthala Punjab, India
**
Associate Professor, Department of Pharmaceutical Management, National Institute of
Pharmaceutical Education and Research (NIPER), Mohali, Punjab, India
***
Assistant Professor, Department of Management, I.K.Gujral Punjab Technical University, Main
Campus, Kapurthala Punjab, India
ABSTRACT
Hospitality and Tourism sector in India accounts for more than 7.5% of the Gross Domestic Product
(GDP) and as of 2019, about 4.2 crore jobs were created in the Tourism sector in India alone as per an
estimate of India Brand Equity Foundation (March, 2020) which was 8.1% of total employment in the
country. Further, importance of this sector can be gauged from the fact that in the Travel and Tourism
Competitive Index (of World Economic Forum), India has moved up from the 65 th rank in the year 2014
to 34th rank in the year 2019. Foreign exchange earnings of this sector, in January 2019, i.e., just prior
to the spread of COVID-19, were Rs. 1.88 lakh crore. Every sector in Indian economy got affected due to
COVID-19 but Hospitality & Tourism Sector has seen significant job loss estimated around 38mn which
is almost 70% of the total workforce. Impact on Hospitality & Tourism Sector in India is such that it was
the first one to get disrupted due to pandemic and will be the last one to see a resumption of activities.
In the present paper, the impact of COVID-19 on listed companies of Hospitality & Tourism Sector
which are part of BSE-500 Index has been analysed. An attempt has been made to suggest the recovery
roadmap as devised by these affected companies to deal with the prevailing situation and as observed
from overall analysis.
Key words: - Pandemic, Hospitality and Tourism, Job Loss, Travel and Tourism Competitive Index
INTRODUCTION COVID-19 has compelled the policymakers to grapple with
trade-off between public safety and reviving economies.
Hospitality Sector is very broad and has many sub-sectors.
The question is: Lives vs. Livelihoods.
It covers accommodation (Bed and Breakfast or B&B),
Hotels, Motels, hostels, resorts, serviced apartments, time- HOSPITALITY AND TOURISM INDUSTRY IN
sharing), Food and Drink (Restaurants, takeaway/catering, INDIA: CURRENT SCENARIO
bars and cafes – coffee, tea, snacks, alcohol, night clubs,
The following are the major issues involved in the
tea & coffee shops), Travel and Tourism (Airlines, travel
Hospitality and Tourism Industry in India:
agents, tour operators, Online travel agencies, cruises
covering lodging, catering and entertainment, car rentals, 1. Uncertain Environment:
trains, buses, casino covering live show, food and drinks, or
At present, the sector is facing an uncertain environment. It
connected to hotels, recreation covering movie theatres &
is almost impossible to make even contingency plans for
amusement parks, and companies in hospitality technology.
Many new sub-segments are emerging within each sub- the future by drawing up business hypotheses (volume,
sector, e.g., space tourism under Tourism. duration) to make a plan for getting through the current
situation. For a hotel or an airline, it is much harder to
In each sub-sector, many developments are taking place arrange for staff to work from home. Ultimately, it is going
due to COVID-19. For example, fewer people are likely to to be toss-up between three scenarios, i.e., „a V-shaped
travel or able to travel due to travel restrictions has direct recovery‟, „a U-shaped recovery‟ or „an L-shaped
impact on Travel and Tourism. Businesses are incurring recovery‟. On the basis of the recovery path, contingency
losses so job security is an issue so it is likely to affect plans can be drawn up. Moreover, from existing relaxation
booking for holidays for 2020/2021. Many local, national given to various sectors, „essentiality‟ formed the core
and international events have been cancelled or postponed, basis, e.g., the case of pharmaceuticals and food
e.g., Olympics, so that will affect travel and tourism. processing. It is the fact that the hospitality and tourism
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sector is „labour intensive‟ and also, „export intensity‟ is for all of them. The industry is literally facing an
less so full-fledged opening, and operation is not feasible in “existential crisis”.
short-run.
MAIN OBJECTIVES OF THE RESEARCH PAPER:
2. Unemployment: Main objectives of the research paper are as follows: -
The Federation of Associations in Indian Tourism and 1. To assess the impact of COVID-19 (pandemic) on the
Hospitality (FAITH), the national federation of ten national selected players in organized hospitality and tourism
tourism, travel and hospitality organizations of India cited sector in India
the potential job loss of around 38 million in the sector. It
2. To identify measures undertaken by the Government or
forms 70% of the total workforce in this sector. However,
government agencies to support organized hospitality
the World Travel and Tourism Council estimates that the
and tourism sector in India
tourism industry stands to lose 50 million jobs and see a
25% decline in global travel. A substantial number of job 3. To suggest the roadmap for the recovery of the
losses are expected for persons working in restaurants, bars, hospitality and tourism sector on the basis of actions of
airlines and cruises, online and traditional travel organized players in hospitality and tourism sector in
companies, ground agents, event management companies, India and specific trends in this sector
and transporters, among others. The industry is largely
dependent on masses of people travelling around the world METHODOLOGY
and millions within cities, who use restaurants and bars. For this study, the companies which are part of the BSE-
Majority of workers in tourism industry have no steady 500 index and falls under the Hospitality Sector have been
income as they are in the informal sector and a lockdown covered. As on July 31, 2020 the listed companies which
would mean the loss of their livelihoods. Lockdown has are part of BSE-500 and fall under the Hospitality and
severely hit them. There will be severe economic hardships Tourism Sector are as follows: -
Table No.1
Name of the Company Industry
Balmer Lawrie & Co. Ltd. Diversified (with presence in corporate travel)
EIH Associated Hotels Ltd. Hotel, Resorts and Restaurants
Indian Tourism Development Corporation Hotel, Resorts and Restaurants
Indian Hotels Company Limited Hotels, Resorts and Restaurants
Interglobe Aviation Limited (operates Indigo) Airlines
Indian Railway Catering and Tourism Corporation (IRCTC) Misc. Commercial Services
Lemon Tree Hotels Limited Hotels, Resorts and Restaurants
Mahindra Holiday & Resorts India Limited Hotels, Resorts and Restaurants
Quess Corp Limited Misc. Commercial Services
SIS Misc. Commercial Services
SpiceJet Ltd. Airlines
TeamLease Services Ltd. Misc. Commercial Services
United Breweries Ltd. Breweries & Distilleries
Westlife Development Ltd. Hotels, Resorts and Restaurants
ANALYSIS AND INTERPRETATION: - Tourism/hotels/restaurants as Industry in India is “least

dependent” on the banking sector and is “self-reliant” for
1. Organized Hospitality and Tourism is the “least
its own growth as is evident from the amount owed by
dependent on the banking sector” and is “self-
various industries to the banking sector in India: -
reliant” forsustainability: -
Table No.2: Key Industries Impacted due to COVID

Amount owed to the banking sector
Industry
(In Rs. Trn)
Retail trade 2.87
Wholesale trade 2.55
Roads 1.94
Textile 1.89
Engineering 1.18
Petroleum, Coal Production 0.73
Ports 0.64
Cement 0.57
Chemicals 0.54
Tourism/hotels/restaurants 0.46
Source: Roy, Anup, SomeshJha and AbhijitLele, “Kamath panel identifies 26 stressed sectors, outlines rules for recast”,
Business Standard, September 09, 2020
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3. Drastic Reduction in the Revenue: - India level, by the third week of March 2020 itself, this
sector witnessed a decline of more than 65% in occupancy
All sub-sectors of the Hospitality and Tourism Sector in
level in comparison to the same period of the previous year.
India have suffered badly due to the pandemic. Hoteliers
Cancellation of bookings, no new bookings and demands
are faced with drastically reduced incomes and substantial
for full refunds have affected the sector‟s revenue. For
fixed costs which remain unchanged (wages, credits and
April-June quarter of 2020, the Indian tourism industry is
any loans). A sudden drop in revenue has posed them a
likely to book a revenue loss of Rs. 69,400 crore which
variety of challenges. Occupancieshave come to single digit
comes to 30% year-on-year loss. For calendar 2020,
and even recoveryis not expected in near future. At an all-
projected revenue loss is to the tune of Rs. 1.25 trillion.
Table No.3
Company Net Profit Ratio Net Profit Ratio
(June 30,2019) (June 30,2020)
Balmer Lawrie & Co. Ltd. 5.10% (3.26%)
EIH Associated Hotels Ltd. 0% (448.27%)
Indian Tourism Development Corporation 0% (53.57%)
Indian Hotels Company Limited 0.98% (186.01%)
Interglobe Aviation Limited (operates Indigo) 12.77% (371.27%)
Indian Railway Catering and Tourism Corporation (IRCTC) 15.69% (18.32%)
Lemon Tree Hotels Limited (0.71%) (147.5%)
Mahindra Holiday & Resorts India Limited 0% (10.88%)
Quess Corp Limited 2.24% 1.95%
SIS 3.83% 2.68%
SpiceJet Ltd. 8.73% (115.16%)
TeamLease Services Ltd. 1.52% 1.50%
United Breweries Ltd. 8.01% (9.03%)
Westlife Development Ltd. (0.26%) (64.52%)
(Source: Compiled by authors by taking relevant data from moneycontrol.com)
4. Default on the Loans and difficulties in compliance 2019. This amount was around Rs. 22,200 crore at the end
on loan covenants: of September 2018 so there was the jump of 37.2% in one
year alone. Since it included airline sector as well and if we
Unorganized hospitality and tourism industry is more prone
take into account only hotel chains such as Chalet Hotels,
to default on the repayment of loan and mortgage
Lemon Tree Hotels, Asian Hotels (North), Indian Hotels
instalments. In the organized sector also, lenders‟ exposure
then it accounted for around 50% of the combined
to the sector is at risk. Exposure at risk can be gauged from
borrowings. Smaller chains are considered more vulnerable
the fact that the 65 listed companies in „travel and
in comparison to their large peers. Interest Coverage Ratio
hospitality sectors‟ had a combined outstanding loan
of smaller chains is generally lower.
amount of around Rs. 30,500 crore by the end of September
Table No.4: Interest Coverage Ratio for selected Hotel Chain Groups
Name of the Hotel Chain Interest Coverage Ratio Total Debt (in Rs. Cr.) Gross Leverage Ratio
Lemon Tree Hotels 1.7x 1285.1 1.6
Asian Hotels (North) 0.6x 1183.3 1.7
Indian Hotels 3.3x 3503.2 0.9
EIH 6.5x 687.4 0.2
Mahindra Holiday 4.8x 1772.2 9.2
Source: Kant, Krishna, “Coronovirus spread: Banks‟ exposure to travel, hospitality sectors at risk”, Business Standard,
March 20, 2020
Decreased revenue has affected compliance with loan Roadmap for the recovery of the hospitality and
covenants or conditions. Loan to Value tourism sector on the basis of actions of organized
Ratio(LTV)measures the amount of risk a lender is willing players in hospitality and tourism sector in India and
to assume. The lower the LTV, the lower is potential that specific trends in this sector:
the lender will suffer a loss. Revenue or earnings are the
Recovery roadmap for the hospitality and tourism sector
core determinants of the operations of a player in
requires interventions from organized sector players as well
hospitality sector. As revenue and earnings of the industry
as liberal support from the government and government
have dropped, so the value has come down. It has led to
agencies. These suggestions are as follows: -
difficulties in compliance of loan covenants.
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(A.) Recommendations to the Government: -Rs. 20 Lakh 1. Waiver/Relaxations in License and Permit Renewal
Crore „Stimulus package‟ was announced on May 13, Fees:
2020 by Smt. Nirmala Sitharaman. This stimulus
State governments should reduce taxation on the hospitality
package targeted various sectors. But these measures
industry and reduce the costs of bar licenses, application
did not offer help to tourism and hospitality sector. The
fee for a new licence, licence fee which hotels pay every
measures desired to be undertaken from the
year. Such fees need waiver or relaxation. Waiver can be
government side are given below: -
on pro rata basis or relaxation can be in the form of
moratorium on payments for a particular period. The
following example clarifies fees payable by hotels and
clubs for bar licences in case of Tamil Nadu:
Table No.5: Fees payable by hotels and clubs for bar licences in Tamil Nadu
Grade of hotel Application fee Licence fee Privilege fee
(In Rs.) (In Rs.) (In Rs.)
Five-star 7,500 25,000 20,00,000
Four-star 7,500 25,000 12,00,000
Three-star 7,500 25,000 8,00,000
Two-star 7,500 25,000 6,00,000
One-star and others 7,500 25,000 5,00,000
Source: Kandavel, Sangeetha, “Tamil Nadu: State government hikes bar licence fees for hotels, clubs”, the Hindu,
February 19, 2019
2. Financial Support from Govt.: Recommendations to the Players in the Hospitality
Sector:-
Government will have to play an active role in
reshaping and reinventing this industry for its revival. 1. Technological Interventions:
It is hard for the companies and firms to manage cash
Technology will have to be adopted in order to
flow even in the post lockdown period. So Govt. may
minimize any business interruptions. Holographic
set up some fund to support basic salaries in hospitality
ordering, Keyless entry and Flippy Kitchens should be
sector. Affected persons can be given „direct benefit
used to the maximum extent in order to avoid physical
transfers‟.
touch while keeping in mind the hygiene part.
3. Economical Refinancing:
2. HR Interventions:
The government should put in all the financial
Every organization in the study has focused on HR
resources necessary in order to prevent companies
Interventions. Some of the reputed hotel chains (except
going defunct. It should be allowed to arrange
one, others were not part of the study) have shown the
refinancing at nominal interest rate for the payment of
way forward. They did not lay off their employees.
a year‟s worth salary and wages to employees. Interest
These entities announced pay cuts for their leadership
on interest must not be levied for the given period on
teams. Pay-cut at higher levels and lowering the
the loans for which interest was not paid from March
facilities to employees can help contain the cost and
2020 onwards.
also to retain employees. Hospitality and Tourism
3. Subsidized Electricity and water or deferment of sector needs to “reinvent” and “reconfigure”.
charges for a specific period:
3. Strategic Cost Management:
Waiver of electricity bills for the hospitality sector will
The sector will have to prioritize expenditures, cutting
result in saving the money that can be used to support
out those non-essential costs while trying to monetize
employees with salary and help avoid layoffs.
inventory through collaborative efforts with
Conditional waiver is possible. Alternatively, dues
neighbouring resorts, external service providers and
may be deferred for a specific period. Moratorium of
wholesalers. In order to attract more customers,
six months can be helpful for players in the hospitality
incentives such as waiving parking fees or offering
sector.
discounts may be considered. In the longer-term,
4. Relaxations in Taxation and other statutory dues: expenditures such as major capital projects can be put
into abeyance until business begins to pick up again.
There should be deferment of dues such as advance
tax, GST( Goods and Services Tax) for at least a year. 4. Predictive Data Analysis:
The funds should be sanctioned to reimburse Provident
Predictive Data Analysis can be helpful and can enable
Fund (PF), Employee State Insurance (ESI) related
the sector to identify: “What travel patterns will like”
dues towards ESIC, professional tax etc.
and “What preferences will look like”. Tourists will
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HVS”, Business World(2020,April 10), Retrieved from
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increase in certain elements of cost. the-Indian-Hotels-Sector-A-Report-by-HVS/10-04-2020-188770/
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understanding the „pulse‟: industry”, Livemint(2020, May 06), Retrieved from
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to start travelling. They are more fearless and more Standard, Retrieved from https://www.business-
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them as an integral component in the business recovery
plan. 9. “FICCI welcomes stimulus package 2.0, looks forward to more
measures”, Business Standard(2020, May 14), Retrieved from
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welcomes-stimulus-package-2-0-looks-forward-to-more-
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that is required rather than “social distancing”. The Hindu Business Line(2020, April 20), Retrieved
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For this, hospitality and tourism industry will have to
redefine and re-imagine itself in more ways than ever. 11. “India‟s tourism sector may lose Rs. 5 lakh cr, 4-5 cr jobs could
be cut due to COVID-19”, Economic Times(2020, April 03),
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itself after COVID-19, as it did after 9/11”, Indian Express(2020,
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April 27). “100 mn and more Indian jobs are at risk after COVID-
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21. “Tata Group may trim salary of staff at some companies to cut
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at-some-companies-to-cut-cost/589950
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A STUDY ON THE SPECIAL ISSUES OF CULTURAL TOURISM IN KERALA
*
Pradeep Kumar P.S.
*
Associate Professor, Department of Commerce, SAS SNDP Yogam College, Konni,
Pathanamthitta
ABSTRACT
The study proposed a detailed scientific enquiry into the problems of cultural tourism activities in the
state of Kerala which also constitute the objective of the study. There are various apprehensions,
misbeliefs, over expectations and under estimation of the different aspects of cultural tourism as
conceived by the tourists and the local residents. There are problems arising out of these deliberations
affecting the effective cultural tourism activities in the state. Of these various problems, issues such as
the concept of Paradise, Imperialism, and Host-Guest Relationship merit special consideration.
Key Words: Cultural Tourism, Paradise, Imperialism, Host-Guest Relationship, Tourists
1. INTRODUCTION 3.2. SOURCE OF DATA
Cultural Tourism comprise of visits by persons from Primary data were collected directly from the tourists and
outside the Host Community motivated wholly or in part by host community using structured interview schedule. The
interest in the historical, artistic, scientific, or life styles or secondary data were collected from all available sources
heritage offering of a community, region, group or
3.3 UNIVERSE OF THE STUDY
institution. The concept of culture is evolved out of the
demands of the majority of tourists to satisfy their cultural All the tourists both domestic and foreign who visited the
inclinations. It also highlights the responsibilities of travel selected sites constitute the universe of the study.
and tourism agency to operate within the socio-cultural
sensitivities of the destinations and thereby providing 3.4 SAMPLING UNIT
valuable insights into the various aspects of Cultural One individual tourist constitutes the sampling unit of the
Tourism. The cultural heritage and its components study.
gradually transformed as tourism products and became a
major attraction and motivation for tourists in differentparts 3.5 SELECTION OF TOURIST SITES
of the world to visit such cultural sites. Tourists Fourteen tourist places covering all the 7 categories of
increasingly say that they want to experience local culture, cultural tourists according to the typology suggested by
to live like locals and to find out about the real identity of Melanie K Smith were selected. The 14 major cultural
the places they visit(Richards 2009). CulturalTourism tourist centres were selected based on the tourist arrivals
started as a form of alternative tourism and now-a-days it recorded in the Tourist Statistics published by the
can be considered in certain tourism destinations as a Department of Kerala Tourism.
dominant part of mass tourism.
3.6 SAMPLING TECHNIQUE ADOPTED FOR
2. OBJECTIVES OF THE STUDY RESPONDENTS
The contemporary tourism industry is increasingly The samples of tourists are selected by applying non-
influenced by various special issues. Melanie K.Smith probability sampling technique.
(2003) states three special issues associated with Cultural
Tourism such as (1) Paradise (2) Imperialism and (3) Host- 3.7 SAMPLE SIZE ADOPTED FOR THE STUDY
Guest Relation Impact. The influence of these special A total of 700 tourists constitute the sample size of the
issues on tourists is observed to be the problems of Cultural study although the power analysis suggests a lesser sample
Tourism. Hence, a detailed discussion on the problems of size owing to the fact that the higher the sample the better
special issues of Cultural Tourism constitute the objectives will be the results of the study.
of the study.
3.8 TOOL CONSTRUCTION FOR DATA
3. RESEARCH METHODOLOGY COLLECTION
The methodology adopted for the study is given below: The studies of Melanie K Smith (2003), Nikolas Boutas
3.1 TYPE OF STUDY (2009), Jin Huh (2002), John B Gatewood and Catherine M
Cameron (2009), are used to design the measurement scales
It is a descriptive study wherein the existing situation of the because of their relevance and usefulness in the present
problem is described most scientifically. It explains the study. Suitable modifications are made in their scales to
situation as it is. suit for the present study.
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4. RESULTS AND DISCUSSION stated from the above that paradise is a place when it is felt
attractive to a particular kind of persons and has everything
The variables and the results of the analysis are given as
they need for a particular activity. Melanie K Smith
under:
(2003), states tourists seldom visit a place when the place
4.1 PARADISE OF CULTURAL TOURISM loses its paradise effect. Inability to present a destination as
a paradise becomes a special issue which most of the
The term paradise assumes different meaning in different tourists perceive it as a problem.
contexts. According to some religions, paradise is a
wonderful place where people go after they die if they have The following belief statements or Constructs are used for
led good lives. As a noun paradise refer to a place or identifying the problems of Cultural Tourism associated
situation that that seems beautiful or perfect. It can be with Paradise of Cultural Tourism as perceived by tourists.
Table 1Variables of Paradise

Constructs Belief Statements
Construct P1 I am the first to experience a new place, especially a pristine wilderness
Construct P2 This is an experience that is overcome only by becoming the last to see a place before it becomes lost, ruined for all eternity.
Construct P3 I am in search of the most idyllic, unspoilt and untouched destination.
Construct P4 The notion of paradise is often far removed from the reality of a destination
Construct P5 Local people are somehow marginal to the experience of a destination, despite its being their home and them the hosts
Construct P6 There is a clash between the rich, modern world of tourism and the uncomplicated lifestyle of the folk.
Construct P7 My sympathy is with the locals struggling to hang on to their paradise.
Construct P8 That ‘each man kills the thing he loves’ is certainly true of the tourist
Construct P9 We are all looking for the virgin place, we can deflower the unspoiled site, so that we can be the people to spoil it
Construct P10 In time, paradise found is almost invariably paradise lost
(Source: Adapted from Literature Survey)
H1: Construct P1 to P10 has significant effect on Paradise
The following hypotheses are set based on above
of Cultural Tourism
constructs:
The Model Fit Indices for Paradise is given as under in
H0: Construct P1 to P10 has no effect on Paradise of
Table 2
Cultural Tourism
Table 2 Model Fit Indices for CFA –Paradise of Cultural Tourism

Normed
χ2 DF P
χ2
GFI AGFI NFI TLI CFI RMR RMSEA
Paradise of
Cultural 10.867 11 .454 .988 .999 .993 .997 1.000 1.000 .018 .000
Tourism
(Source: Primary Data)
All the attributes loaded significantly on the latent reasonable fit of the measurement model with data. In
constructs. The value of the fit indices indicates a Table 3 the regression coefficients are presented.
Table 3The Regression Coefficients –Paradise of Cultural Tourism

Factors/ Latent Variables Construct (Independent Variance explained
Regression Coefficient C.R. P
(Dependent Variable) Variable) ( percent )
P1 0.584 17.649 <0.001 34.2
P2 0.615 18.927 <0.001 37.8
P3 0.612 18.800 <0.001 37.5
P4 0.658 20.838 <0.001 43.3
P5 1.314 100.328 <0.001 172.8
Paradise of Cultural Tourism
P6 0.634 19.750 <0.001 40.2
P7 0.672 21.500 <0.001 45.1
P8 0.621 19.184 <0.001 38.6
P9 1.391 100.328 <0.001 193.4
P10 0.695 22.640 <0.001 48.3

Table 3 shows that all the constructs have regression Tourism which the tourists like to mention as the problem
coefficient value more than 0.4. So all these constructs of Paradise of Cultural Tourism. The pictorial
have significant effect on the special issue of Cultural representation of CFA is given in Figure 1.
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Figure 1Path Diagram on Paradise
4.2 IMPERIALISM OF CULTURAL TOURISM tour operators. The debate about whether tourism is like a
new form of Imperialism has been prominent. When
It is a fact to note that even though tourism interlinks
tourism turns to be a new form of Imperialism, it is likely
economic, social and cultural networks inter-
to become a problem of Cultural Tourism. The following
transnationally, but the influential role in decision making
constructs (Table 4) are used to analyse the problem of
is most often occupied by wealthy European and American
Imperialism
.Table 4Variables of Imperialism
Construct IMP1 Tourism is, and will remain for the foreseeable future, dominated by Western developed nations, rendering host nations
dependent and subservient to its needs
Construct IMP 2 Tourism still flows predominantly from the developed to the developing world.
Construct IMP 3 The majority of the world’s population will never have the chance to venture outside their country, nor perhaps even their
home town or village
(Source: Adapted from Literature Survey)
The hypotheses based on the above constructs are H1: Constructs Imperialism 1 to Imperialism3 have
formulated as follows: significant effect on Imperialism of Cultural Tourism
H0: Constructs Imperialism 1 to Imperialism3 have no
significant effect on Imperialism of Cultural Tourism.
.
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Table 5 Model fit Indices for CFA –Imperialism of Cultural Tourism
Normed χ2
χ2 DF P GFI AGFI NFI TLI CFI RMR RMSEA
Imperialism of
.000 0 .000 0 1.000 .000 1.000 .000 1.000 .000 .307
Cultural Tourism
All the attributes loaded significantly on the latent reasonable fit of the measurement model with data as
constructs. The value of the fit indices indicates a given in Table 5
In Table 6 the regression coefficients are presented below:
Table 6The Regression Coefficients –Imperialism of Cultural Tourism

Factors/ Latent Variables Construct (Independent Regression
C.R. P Variance explained (percent )
(Dependent Variable) Variable) Coefficient
Imperialism 1 0.550 16.326 <0.001 30.3
Imperialism of Cultural
Imperialism 2 0.589 17.850 <0.001 34.6
Tourism
Imperialism 3 0.529 15.544 <0.001 28.0
In this case all the constructs have regression coefficient called the problem of Imperialism of Cultural Tourism. The
value more than 0.4. So all the three constructs have pictorial representation of CFA on Imperialism is given in
significant effect on the special issues of Cultural Tourism Figure: 2.
Figure 2 Path Diagram on Imperialism

4
.3 HOST-GUEST RELATION AND ITS IMPACT ON servants or guides or companions. Any development of
CULTURAL TOURISM Cultural Tourism that is likely to affect the host guest
relationship is considered to be a problem of Cultural
The influx of Cultural Tourists to a destination is observed
Tourism.
to be affecting the Host-Guest Relationship in the
destination country. The behavior of affluent tourists in a The following constructs (Table 7) are used to analyse the
destination may develop a feeling among local community problem of Host-Guest Relation and its impact on Cultural
that their role in tourism sector is limited to menial jobs as Tourism as perceived by tourists:
Table 7 Variables of Host-Guest Relation

HGRI 1 Many of these destinations now find themselves languishing at the stagnation or decline phase of the resort lifecycle
HGRI 2 Their people are often disenchanted, and rarely choose to retain their homes in the same location as the tourists.
HGRI 3 It is common for tourists to be confined to ‘enclaves’ where contact with local residents is minimal.
HGRI 4 Socio-cultural impacts can be managed more easily, as host–guest contacts are minimal and controlled
HGRI 5 It is worth questioning how far host–guest relations have ever been truly authentic given the contrived nature and typically short
duration of the average holiday.
HGRI 6 In many destinations, the problems of all-inclusive holidays have been a major cause for concern
(Source: Adapted from Literature Review)
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H1: Constructs Host-Guest Relation Impact 1 to Host-
The hypotheses formulated are the following:
Guest Relation Impact 6 have significant effect on Host-
H0: Constructs Host-Guest Relation Impact1 to Host-Guest Guest Relation Impact
Relation Impact 6 have no effect on Host-Guest Relation
Impact
Table 8 Model Fit Indices for CFA – Host-Guest Relation and its impacts on Cultural Tourism
Normed χ2
Host-Guest
.000 0 .000 0 1.000 .000 1.000 .000 1.000 .000 .307
Relation Impact
( Source: Primary Data)
All the attributes loaded significantly on the latent In Table 9 the Regression Coefficients are presented.
constructs. The value of the fit indices indicates a
reasonable fit of the measurement model with data as given
above in Table 8
Table 9The Regression Coefficients –Host-Guest Relation and its Impact on Cultural Tourism
Construct
Factors/ Latent Variables Regression
(Independent C.R. P Variance explained ( percent )
(Dependent Variable) Coefficient
Variable)
HGRI 1 0.956 50.088 <0.001 91.4
HGRI 2 0.934 44.587 <0.001 87.3
HGRI 3 1.493 100.328 <0.001 222
Host-Guest Relation Impact
HGRI 4 0.968 54.373 <0.001 93.6
HGRI 5 0.963 52.423 <0.001 927
HGRI 6 0.915 41.117 <0.001 83.7
( Source: Primary Data)
The details given in Table 9 indicate that all the constructs Host-Guest Relation and its impact on Cultural Tourists.
have regression coefficient value more than 0.4. Hence, all The pictorial representation of CFA on Host-Guest
these constructs have significant effect on the problem of Relation Impact is given in Figure: 3.
Figure 3 Path Diagram on Host –Guest Relationship
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5. SUMMARY OF FINDINGS -SPECIAL ISSUES Imperialism of Cultural Tourism and Host-Guest Relation
OF CULTURAL TOURISM–COMBINED Impact
EFFECT- FULL MODEL
H1: Paradise of Cultural Tourism has a positive influence
An analysis is also undertaken in order to give a concise on Special Issues related to Cultural Tourism.
view about the problems of special issues of Cultural H2: Imperialism of Cultural Tourism has a positive
Tourism. The following hypotheses are set for ascertaining influence on Special Issues related to Cultural Tourism.
the combined effect of Paradise of Cultural Tourism, H3: Host-Guest Relation has a positive influence on
Special Issues related to Cultural Tourism.
Table 10 Model Fit Indices for CFA- Special Issues related to Cultural Tourism
Normed χ2
Special Issues related

.000 0 .000 0 1.000 .000 1.000 .000 1.000 .000 .274
to Cultural Tourism
All the attributes loaded significantly on the latent The Regression Coefficients are presented in Table 11.
constructs. The value of the fit indices indicates a
reasonable fit of the measurement model with data as
shown in Table 10
Table 11 The Regression Coefficients – Combined Effect
Path Estimate Critical Ratio (CR) P Variance explained
Paradise of Cultural Tourism →Special Issues of Cultural Tourism 0.314 8.580 <0.001 9.8
Imperialism of Cultural Tourism →Special Issues of Cultural Tourism 0.783 27.802 <0.001 61.4
Host-Guest Relation Impact →Special Issues of Cultural Tourism 0.725 24.239 <0.001 52.5
P1 → Paradise of Cultural Tourism 0.584 17.649 <0.001 34.2
Imperialism 1 → Imperialism of Cultural Tourism 0.550 16.326 <0.001 30.3
HGRI 1 →Host-Guest Relation 0.956 50.088 <0.001 91.4
HGRI 3 →Host-Guest Relation 1.493 100.328 <0.001 222
HGRI 5 →Host-Guest Relation 0.963 52.423 <0.001 927
The results reveal that the regulatory construct Paradise of is accepted. The regulatory construct Host-Guest Relation
Cultural Tourism has no significant influence on Issues has significant influence on Issues related to Cultural
related to Cultural Tourism as the standardized direct effect Tourism as the standardized direct effect of this construct
of this construct on issues was 0.314, which is less than the on Issues was 0.725, which is more than the recommended
recommended value of 0.4. Hence the hypothesis is value of 0.4. So the hypothesis stating that Host-Guest
rejected. The regulatory construct Imperialism of Cultural Relation has a positive influence on Special Issues related
Tourism has significant influence on Issues related to to Cultural Tourism is accepted. The diagram of the
Cultural Tourism with a value of 0.783 and the hypothesis combined model is given in Figure 4
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Figure 4 Special Issues(combined) related to Cultural Tourism
6. CONCLUSION 3. Melanie K. Smith (2003), Issues in Cultural Tourism

Studies, Routledge 11 New Fetter Lane, London
The conclusion of the study is on the following lines:
EC4P 4EE.
The analysis of Special Issue of Cultural Tourism –
4. NikoalasBoutas (2009), Cultural Tourism, Young
Combined Effect reveals the findings as;Paradise of
People & Destination Perception: A case study of
Cultural Tourism has no influence on Special Issues related
Delphi, Greece, Thesis submitted to University of
to cultural tourism. The Imperialism of Cultural Tourism
Exeter.
has influence on Special Issues related to cultural
tourism.Host- guest relation has significance influence on 5. Richards, G. (2009). Tourism development
Special Issues related to cultural tourism. Further the trajectories – From culture to creativity? Tourism
variables of Imperialism and Host-Guest Relationship are Research and Marketing, Barcelona. Paper presented
proved to the strong predictors of the respective issues to the Asia-Pacific Creativity Forum on Culture and
while the variables of Paradise exhibit different result when Tourism, Jeju Island, Republic of Korea, 3-5 June
treated alone and in combination. 2009. http://www.tram-
research.com/atlas/APC%20Paper%20Greg%20Rich
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ards.PDF
1. Jin Huh (2002), Tourist Satisfaction with Cultural /
Heritage Sites: The Virginia Historic Triangle, by
Thesis submitted to the Faculty of the Virginia
Polytechnic Institute and State University,
Blacksburg, Virginia.
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Belonger Perceptions of Tourism and its Impacts in
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Ministry of Tourism
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ETIOLOGY OF CHILD LABOUR: ECONOMIC CONSTRAINTS AND
JURISPRUDENTIAL NECESSITY
*
Manjinder Gulyani
*
Assistant Professor, Assistant Professor, LL.M. Ph.D, Institute of Law, Kurukshetra University,
Kurukshetra
ABSTRACT
The children need to be protected from all kind of exploitation, moral and material abandonment. They
need to be provided with opportunities to education and development as per the constitutional mandate.
But inspite of all these guidelines children have to work during their tender years. The guidelines in
different legislations are not taken care of and the children are made to work for longer hours with
lesser wages. So, the paper analyses the etiology of child labour wherein all the major factors
contributing to the problem are discussed. The mandate of Child Labour (Prohibition and Regulation)
Act, 1986 are discussed alongwith the latest amendments and the judicial decisions.
Keywords: Child Labour, Act, Working Hours, Prohibition, Adolescents.
INTRODUCTION sense, a child is a person who has not attained the age of 18
years. According to Section 2 (ii) of the
Children are one of the most vulnerable classes of the
Child labour (Prohibition and Regulation) Act 1986, a child
society. This fact was acknowledged and understood by the
is a person who has not completed fourteenth year of age.
Constitution makers also. That is why Article 15 of the
The recent Amendment Act of 2016 also defines the term
Constitution was created which justifies the enactment of
child in the same way. However, it says that the definition
special laws for the protection of children. Article 24 was
of child may be adopted from The Rights of Children to
especially created to deal with the problem of child labour.
Free and Compulsory Education Act, 2009. Further, the
Many of principles in Part IV of the Constitution have also
Amendment Act of 2016 in Section 4 (i) has included the
been included for the protection of children. But in spite of
definition of adolescent. According to this definition, a
it, the rights of children have been violated since decades.
person who is above the age of 14 but below 18 years, is
According to the report of (ILO and UNICEF,
adolescent for the purpose of this legislation. It is pertinent
2020) “Child labour reinforces intergenerational poverty,
to mention here that the Juvenile Justice Act, 2015 defines
threatens national economies and undercuts rights
a child as a person upto 18 years of age. As per the
guaranteed by the Convention on the Rights of the Child”.
provisions of Section 79 of Juvenile Justice Act, whoever
The International Labour Organisation (ILO) has estimated engages a child in employment, maybe liable
that in 2015 number of child workers in India is 5.7 million for rigourous imprisonment for a term which may extend to
(Haider F., 2016). According to NCRB (National Crimes five years and shall also be liable to fine of one lakh rupees.
Records Bureau) report of 2016, a total of 251 cases were Moreover, Section 79 of this Act shall prevail upon the
registered under the Child Labour Prohibition and provisions of any other legislation. So, here an anomaly is
Regulation Act, 1986. The analysis of NCRB reveals that created between JJ Act, 2015 and the provisions of Child
out of 251 cases, a significant number that is 53, were the Labour Prohibition and Regulation Act, 1986. Similarly,
crimes committed against the migrants. Thus, the problem there are other legislations that define the term „child‟
of child labour is one of such diseases which is at its differently. For example, The Plantation of Labour Act,
terminal stage inspite of so many legislations to regulate 1951 defines child as a person who has not completed 15th
it. So, the paper focuses on the etiology of child labour and year of age.
examines what are the causes that make this
The Act of 1986 aimed at creating a unified procedure to
problem invincible. Economic constraints are definitely the
regulate the working conditions of children in various
major cause of this problem. Further, the number of
employments. It fixed the working hours at six, with the
children employed has been increasing despite so many
break of one hour after a shift of three hours (Section 7 of
regulatory attempts of the state. That is why the paper
the Child Labour Prohibition and Regulation Act,
will analyse the jurisprudential concerns attached to the
1986). Further, making a child work overtime is also
problem.
prohibited under Section 7 of the Act. The timings have
DEFINITIONAL ANOMALIES also been regularised as not between 7:00 PM and 8:00
AM. A child cannot be made to work or be required to
The definition of child is different in various legislations work in another establishment on the days he has already
and that creates a problem for the executors. In general
14 | P a g e
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been working. Thus, this provision under Section 7 (6) 3. Lack of awareness amongst society- This is another
removes all kinds of doubts regarding the working hours of significant sociological factor that makes the vice like
the children. child labour to prevail. If the society is sensitive enough not
to accept the children working in their tender years, at least
The Act of 1986 and the new Amendment Act of 2016,
some industries will start taking it seriously.
however, permit a child to be employed in a family
enterprise, the occupation being a non-hazardous one. This 4. Migration- Migration is again related with economic
engagement is allowed to be after school hours or during compulsion. The migrated labourers have to make their
the vacation. children work in order to meet their daily necessities.
The definition of „hazardous process‟ is to be borrowed 5. Prevalence of social inequities- Inequitable distribution
from the Factories Act, 1948 as: of resources amongst different strata of the society
contributes to poverty and hence child labour. The studies
“any process or activity in relation to an industry specified
reveal that most of the children employed belong to Dalit
in the First Schedule where, unless special care is taken,
communities (Gupta, R., 2016)
raw materials used therein or the intermediate or finished
products, bye-products, wastes or effluents thereof would— IMPACT OF COVID-19 ON VICTIMISATION OF
(i) cause material impairment to the health of the persons CHILD LABOUR
engaged in or connected therewith, or
As discussed earlier, when the poverty increases, the
(ii) result in the pollution of the general environment.” child labour also increases. Further, the unemployment
status ticks are also very grim. During covid-19 crisis
MAJOR CAUSES OF CHILD LABOUR
“Global working hours fell in the first quarter of 2020 by
There are many factors that contribute to the problem of an estimated 4.5 percent compared to the final quarter of
child labour. The main causes are discussed as under: 2019. This adds up to approximately 130 million full-time
jobs, assuming a 48-hour work week. Global working hours
1. Poverty- Poverty is the most common factor that in the second quarter are expected to be 10.5 percent lower,
contributes to the compulsion for the children to be equivalent to 305 million full-time jobs” (ILO and
employed and skip their chances to get education. With
UNICEF, 2020).
poverty, comes child labour as households use every
available means to survive. The studies reveal that 1 During lockdown due to the threat of the spread of COVID-
percent point rise in poverty leads to at least a 0.7 percent 19 virus, the children got involved in other activities(ILO
point increase in child labour (Edmonds, E. V, 2006; G. and UNICEF, 2020). Since the schools were closed. In a
Porto and B. M. Hoekman,2010; Edmonds, E. V., and study conducted in Malawi, one of the children said:
N. Schady, 2012 as cited in ILO and UNICEF, 2020).
“Many parents in my neighbourhood have taken advantage
According to another study (Cogneau, D., and R. Jedwab,
of the „holiday‟ to send children to town to sell fruits and
2012), “in Côte d‟Ivoire on the drop in cocoa prices in the
vegetables”.
1990 economic crisis found that a 10 percent fall in income
led to a more than 3 percent decline in school enrolment ILO and UNICEF, 2020 analysis reveals that “they
and more than 5 percent increase in supplement family income when adults are unable to work,
child labour”. According to The World Bank, (as cited in especially since they can skip or bypass curfews as they are
ILO and UNICEF, 2020) the number of people in extreme less visible and less likely to be caught by police”. So, there
poverty could reach from 40 million to 60 million this year is likelihood of increase in child labour as one of the results
alone compared to before the COVID-19 crisis. The of the ongoing pandemic.
estimates point to a 20 percent rise in 2020. Extreme
JUDICIAL INTERVENTIONS
poverty is defined as those living on less than $1.90 per
day. The problem of exploitation of children has been
increasing inspite of so many statutes. The courts have also
2. Unemployment amongst Adults- Since the adults of the
tried to fulfill their constitutional commitments by
family are unable to get proper employment, the children
adjudicating guidelines from time to time. These judicial
are forced to work. Further, children are often the most
interventions may be distributed in three stages: First, pre-
available labour in households. When households need
M.C. Mehta case, second post M.C. Mehta case and thirdly,
more financial support, they turn to Children (Edmonds, E.,
Post Amendment Act of 2016.
and C. Theoharides, 2020). Parental unemployment due to
economic shocks in Brazil has led children to step in to PRE-M.C. MEHTA CASE
provide temporary support. Similar effects have been
The landmark case of People's Union for Democratic
documented in many countries including India (Jacoby,H.
Rights v. Union of India (AIR 1982 SC 1473) is one of the
G., and E. Skoufias, 1997).
most significant cases in this behalf. In this case, the court
held that children below the age of 14 years can‟t be
15 | P a g e
PP: 14-17 ISSN No: 2278-7925
employed in hazardous work. As the children were the children near their residence. The Court identified nine
employed in construction work in this case, the court held such industries wherein the children were prohibited to be
that it is a hazardous work and it is violative of their right employed.
under Article 24 to employ them in construction work.
POST M. C. MEHTA CASE SCENARIO
In Salil Hydro Project v. State of Jammu Kashmir (AIR
After this judgment, as per the direction of the court, a
1984 SC177) also, the honourable Supreme
collaborative survey was conducted by the government. It
Court reiterated the principle that construction work is
was found that in the national Capital itself there are 1740
hazardous in nature. So, the children can't be employed in
child labour during 1996 and 1330 erring industries have
that work.
been subjected to penalty to the tune of one crore rupees
In Bandhua Mukti Morcha v. Union of India(AIR 1984 SC (The Quami Awaz (Urdu) July 3, 1997, p.3.) In Rajasthan,
802), a PIL was filed on behalf of children employed in total number of child labour identified in 31 district was
carpet industry of Varanasi and Mirzapur. It was alleged 8158 out of which 316 were employed in hazardous and
that it is violative of Article 24 to employ children below 4994 in nonhazardous industry. In Jaipur alone there are
the age of 14 year in such industry. The court held that the 364 children which is hard to believe (The Times of India,
children should be given an environment that helps them July 8, 1997, p.8). In Orissa, 21500 child labour have been
becoming a productive member of the society. So, the court reported, the highest in India. Maharashtra and Madhya
directed that the provisions of compulsory education, Pradesh have reported 15,000 and 14,000 respectively (The
regular health checkups and nutrition food must be created. Hindu, July 8, 1997, p.3). According to the Supreme Court,
The court also directed that periodical reports of the U.P. has 6.15 lacs child workers whereas the State
progress of these schemes to be submitted to the Supreme Government findings put the figure at 32,000 and 15,000
Court. are working in hazardous industries (The Pioneer, July
8,1997, p.3). In Bihar altogether 27 survey were conducted
In Sheela Barse v. Union of India (1986) 3 SCC 423),
and only 287 child workers were working in the States (The
the Honourable Chief Justice Bhagwati observed that:
Hindustan Times, June 1997, p.5). In Karnataka, the
“A Child is a national asset; it is the duty of the State to official survey estimated 96,520 child labourer whereas
look after the child with a view to ensure full development NGO‟s put the figure at 35 lakhs (The Indian Express,
of his personality. Emphasising the significance of the August 4, 1997, p.3). In Tripura, 24,000 child labour were
dignity of youth, and childhood in a civilized society”. working in different industries (The Hindu, July 6, 1997,
p.10).
In the case of Vishal Jeet v. Union of India (AIR
1990SC1412), the Supreme Court took serious note of the The influx of child labour in the infamous factories of
buying and selling of female children for prostitution and Sivakasi continues to be as heavy as before, inspite of the
held that failure to protect children from such exploitation Supreme Court‟sjudgment in December, 1996 passing
is the sheer violation of Article 23,24, 39 (e) and 39(f) of strictures against the use of child labour in hazardous
the Constitution. industries. Recently, Smitu Kothari (2013) conducted a
survey regarding the position of child labour. In February
DISCUSSION IN M.C. MEHTA V. STATE OF TAMIL 2012, there was again a fire accident in one of the match
NADU AIR 1997 SC 699
factories near Sivakasi, killing six children. According to
In this case, the employment of children below the age of this study, as many as 45 thousand children were employed
14 years in the crackers and match factories located in these factories out of total one Lakh workers. The study
in Sivakasi was brought to the notice of apex court. revealed that these children get up between 3:00 to 5:00
Considering the economic constraints of the families of AM to reach the factory as far as 30 kilometers away.
these children, the court held that children may be According to the estimates, 44% of the children are below
employed in the packing work and not in the manufacturing the age of 15. Despite the directive of the apex court in
process with the caution that the place of packing must be Jammu and Kashmir carpet industry, nearly 7 thousand
away from the place of manufacture in order to avoid children between age of 8 to 10 are employed who work for
exposure. As on December 31, 1985, there were more than a monthly wage of ₹80 for the work of eight hours a day.
200 match factories in Sivakasi. 27,338 workers were Nearly 60% of these children suffer from asthma
employed in the factories, out of whom 2941 were children. and tuberculosis.
A serious fire accident took place wherein many people
CURRENT SCENARIO (POST AMENDMENT ACT
died out of which some were children. The Supreme Court
OF 2016)
took up the case suo moto and laid down several guidelines
for the safety of child workers. The court directed the states While the Act of 1986 tried to bring conceptual uniformity
to conduct survey within six months of the decision and regarding the definition of child, the Amendment Act of
remove the children from all hazardous employments. The 2016 has again created an anomaly as it is in conflict with
state was also directed to give an. Alternate employment to many other legislations as regards the definition of child.
16 | P a g e
PP: 14-17 ISSN No: 2278-7925
Further, as the Amendment Act of 2016 permits the child to REFERENCES
work in family business, many experts consider this 1. Bandhua Mukti Morcha v. Union of India & Others AIR 1984 SC
provision as jeopardizing to the interests of the children. 802, 1984 SCR (2) 67.
According toILO and UNICEF (2020), working in family
2. Gupta, R. 2016. “A Law that Allows Child Labour.”The Hindu
business generally gives no consideration to the safety and (online), Available
the health concerns of the children. According to this study, at:https://www.thehindu.com/opinion/columns/A-law-that-allows-
when the children worked in informal family enterprises, child-labour/article14560563.ece
they faced increased exposure to work related hazards. 3. International Labour Organization and United Nations Children‟s
Fund, „COVID-19 and Child Labour: A Time of Crisis, a Time to
Section 3 (2) (b) of the Amendment Act 2016, further Act‟, ILO and UNICEF, New York, 2020.
permits a child to work as an artist other than in a
4. Jha, S. 2017. “Satyarthi Backs New Labour Law”. The Hindu
circus. The conditions laid down for that permission are (online), Available
that the safety measures are taken care of. Secondly, the
education of the child should not be affected prejudicially 5. at:https://www.thehindu.com/news/national/satyarthi-backs-new-
child-labour-law/article18961535.ece
due to that kind of employment. The term „artist‟ has been
defined as an activity involving or relating to entertainment 6. Kothari, S. 2013. Sivakasi houses world's largest concentration of
child labour in its industrial units. [online] India Today.
or sports.
Available at: https://www.indiatoday.in/magazine/special-
The Amendment Act prohibits an adolescent to be report/story/19830115-sivakasi-houses-worlds-largest-
concentration-of-child-labour-in-its-industrial-units-770353-2013-
employed in any hazardous employment. The penalty for 07-30.
employing a child or adolescent in contravention of Section
3 or section 3A shall be imprisonment of not less than six 7. M.C. Mehta v. State of Tamil Nadu AIR 1997 SC 699, (1996)
6 SCC 756.
months which may go upto two years or fine may also be
imposed, which shall not be less than twenty thousand 8. People‟s Union for Democratic Rights v. Union of India & Others
AIR 1982 SC 1473, 1983 SCR (1) 456
rupees and may extend up to fifty thousand rupees. The
provision to section 18 (1) and 18 (1A), however, exempts 9. Salal Hydroelectric Project v. State of Jammu And Kashmir AIR
the parents or guardians from liability unless they permit 1984 SC 177, 1984 SCR (2) 473.
the child to work in contravention of the provisions of the 10. Sheela Barse vs Union of India & Ors JT 1988 (3) 15
Act. If any person commits the offence again, the minimum 11. The Child Labour (Prohibtion and Regulation) Amendment Act,
punishment shall be one year, and it may extend to three 1986.
years. The Amendment Act also provides for creation of
12. The Child Labour (Prohibtion and Regulation) Amendment Act,
Child and Adolescent Labour Rehabilitation Fund under 2016 No. 35 of 2016.
section 14-B of the Act. The offences if are committed by
13. The Child Labour (Prohibtion and Regulation) Amendment Rules,
parents or guardian for the first time, such offences shall be 2017.
treated as compounding offence under Criminal Procedure
Code. The amendment has decreased the number of 14. The Hindu, July 6, 1997, p.10.
hazardous employments in the list. Resultantly, the 15. The Hindu, July 8, 1997, p.3.
adolescents may be employed in many harmful activities 16. The Hindu, July 8,1997, p.13.
like chemical mixing units, cotton farms, battery cycling
and brick kilning” (Gupta R., 2016). 17. The Hindu. 2021. Death trap: On Labour reforms. [online]
Available at: https://www.thehindu.com/opinion/editorial/death-
The rules supplementing this amendment have, however, trap-on-labour reforms/article33845038.ece.
clarified the scope of employment in family business and 18. The Hindustan Times, June 1997, p.5.
also as an artist since the working hours are limited and the 19. The Hindustan Times, October 6, 1997, p.5.
provisions of RTE Act have also been taken care of.
20. The Indian Express, August 4, 1997, p.3.
CONCLUSION
21. The Pioneer, July 8,1997, p.3.
Yet again, on 12th February 2021, a fire accident occurred 22. The Quami Awaz (Urdu) July 3, 1997, p.3.
taking 15 lives in one of the firework factories
23. The Times of India, July 8, 1997, p.8.
near Sivakasi (The Hindu, 13th February 2021). And it is
very unfortunate to know that the children are still working 24. Vishal Jeet v. Union of India And Ors AIR 1990 SC 1412, 1990
in such factories. To conclude, it may be said that the SCR (2) 861
employment of child labour has been increasing inspite of
all the legislative and judicial interventions. Although the
commencement of the RTE Act, 2009 has resulted in more
enrollment of children in schools, but the efforts don‟t seem
to be sufficient. Hence, there is a need of stronger political
and social commitment to deal with this problem.
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A STUDY ON SERVICE QUALTY OF SELECTED HEALTH INSURANCE
INDUSTRY IN PUNJAB AND UNION TERRITORY OF CHANDIGARH
* **
Reetu Devi Baldeep Singh
*
Research Scholar, Department of Commerce, Punjabi University, Patiala
**
Assistant Professor, Department of Basic Applied sciences, Punjabi University, Patiala
ABSTRACT
In these days, most of the population of our country is suffering from one or more disease due to bad
eating habits, busy life style or any other reasons. Every person needs medical care sometimes or at old
age. Due to increasing health problems and increasing medical cost it becomes very complicated for a
common man having limited financial resources to survive. Thus, it can be said that health insurance is
become essential to reduce the burden of out of pocket expenditure on health and to remove the
financial burden. The success of any corporation depends upon the availability of products and quality
of service provided to its customers. Due to increasing competition in the market every insurer wants to
please its customers by providing best quality of the products. It is very difficult for the customers to
evaluate the service quality of services as compare to goods due to lack its physical attributes. Service
quality in health insurance depends upon the capacity of the companies to fulfil the expectation of the
customers. So, it becomes necessary for the health insurance companies to provide better services to its
customers. This paper is an attempt to study the service quality of selected health insurance companies
in Punjab and Union Territory of Chandigarh.
Keywords: Health Insurance, Service quality, Perception, Servperf.
INTRODUCTION SERVQUAL model as developed by Parasuraman,
Zeithaml and Berry (1988).
Health insurance can be broadly defined as a financial
mechanism that exists to provide protection to individuals REVIEW OF LITERATURE:
and households from expenses incurred as a result of
Borah (2012) analyzed the satisfaction level of 50
unexpected illness or injury(Bhat andReuben,
customers of Kotak Mahindra Life Insurance branch
2002).Health insurance is an insurance which reduces the
located at Jorhat and service factors affecting customers‟
risk of medical expenditure in near future by paying a
satisfaction. The results showed that majority of the
specified amount of money as a premium according to the
respondents were satisfied from the services of this
terms and conditions of the policy. Like other types of
company. It was concluded that factors like tangibility,
insurance in health insurance, insurer usually provides
accessibility and understanding had the maximum impact
either direct payment to hospital or reimbursed the
on customer satisfaction. It was suggested that company
expenses associated with illness and injuries and disburses
should try to execute its pledge timely, solve customers‟
a fixed amount.
grievances honestly and provide prompt services to the
Service quality is well-defined by Ducker (1991) as “what customers.
the customer gets out and is willing to pay for” rather than
Amponsah and Hiemenz (2009) investigated the overall
“what the supplier puts in. Hence service quality is
service quality of health care providers in Ghana. The data
repetitively conceptualized as stated by the difference
was collected from 531 women aged 15-49. It was found
between the expectations and perceptions perceived service
out that 63.4 percent of the patients were satisfied. Users of
actual performance (Bloemer et al., 1999);Quality in the
the private health service providers were more satisfied
context of service businesses has been conceptualized in a
with the service of providers than consumer of public
different way and on this basis alternate scales have been
health providers. It was also revealed that factors like
suggested for service quality measurement. SERVQUAL
distance, waiting time, maternal education and gender of
and SERVPERF found two main service quality
child had significant association with health care
measurement scales.SERVPERF is suggested best for
satisfaction.
measuring the only perception of the service quality
(Brown et al.,1993). Cronin and Taylor (1992) RESEARCH METHODOLOGY:
recommended that expectation section of SERVQUAL
The present study is based on primary data. The sample
scale be rejected and only performance section be used.
Therefore, in this study we used SERVPERF scale which size of the study was 12 general insurance
comprises of 22 statements of perception section of companiesproviding health insurance including eight
private sector companies named Bajaj Allianz, Royal
18 | P a g e
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Sundram, Icici Lombard, IffcoTokio, Tata Aig, Reliance TANGIBLES
general insurance companies and four public sector
Tangibles consist of appearance of physical facilities,
companies namely National, Oriental, New India and
equipment and appearance of personnel etc. (Parasuraman
United India The data was collected through questionnaires
et. al., 1988). Table 1 shows that a vast majority of the
from 435 customers having health insurance policy of
policyholders were agreed with the statements, viz.
general insurance companiesof Punjab and Union Territory
„Present health insurance company has up to date
of Chandigarh. Descriptive statistics has been used to
equipment and technology (i.e. computers etc.)‟ (89.7 per
analyse the data.
cent); „Present health insurance company‟s physical
DATA ANALYSIS AND INTERPRETATION: facilities are visually appealing‟ (87.9 per cent); „Present
health insurance company‟s employees are well dressed
To measure perception of the customers towards the
and appear neat‟ (84.9 per cent); „The appearance of the
dimensions of service quality (i.e. tangibles, reliability,
physical facilities of present health insurance company is in
responsiveness, assurance and empathy) the respondents
keeping with the type of services provided‟ (75.4 per cent).
were asked to indicate their opinion on a five-point likert
scale (ranging from strongly agree that has been assigned Further, table 1 depicts that the customers‟ attitude towards
weight of 5 to strongly disagree which has been allocated the tangibles is highly positive compared to the other
weights equal to 1) and their constructs score have been dimensions as it obtained the highest score of 4.03 (SD =
obtained. Thus, higher score indicates positive attitude of 0.86).
customers towards the particular dimension of service
quality or vice versa.
TABLE: 1
MEAN SCORES REPRESENTING OPINION OF POLICYHOLDERS AND CONSTRUCT SCORE
REGARDING TANGIBLE DIMENSION OF SERVICE QUALITY
(N=435) Agree Nor
Weighted
Disagree
Disagree
Disagree
Strongly
Strongly
Average
Items’
Neither
Scores
Statements
Agree
Agree
Labels
Present health insurance company has up to date 206 184 7 36 2

TAN 1 4.23
equipment and technology (i.e. computers etc.). (47.4) (42.3) (1.6) (8.3) (.5)
Present health insurance company‟s physical 139 243 10 34 9
TAN 2 4.08
facilities are visually appealing. (32.0) (55.9) (2.3) (7.8) (2.1)
Present health insurance company‟s employees 133 236 24 35 7
TAN 3 4.04
are well dressed and appear neat. (30.6) (54.3) (5.5) (8.0) (1.6)
The appearance of the physical facilities of
114 214 29 64 14
TAN 4 present health insurance company is in keeping 3.80
(26.2) (49.2) (6.7) (14.7) (3.2)
with the type of services provided.
Overall Tangibility’s Construct Score
4.03
(SD=0.86)
time, it does so‟ (80.4 per cent); „When you have problems,
RELIABILITY
present health insurance company is sympathetic and
The reliability is the ability of the company to perform the reassuring‟ (75.9 per cent); „Present health insurance
promised service dependably and accurately (Parasuraman company is dependable‟ (69 per cent); „Present health
et. al., 1988). Below table 2 clearly reflects that most of the insurance company provides its services at the time it
policyholders agreed with all the statements of reliability promises to do so‟ (80.5 per cent); „Present health
dimension of service quality, i.e. „When present health insurance company keeps its records accurately (error free
insurance company promise to do something by a certain bills and documents)‟ (81.7 per cent).
19 | P a g e
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TABLE: 2
REGARDING RELIABILITY DIMENSION OF SERVICE QUALITY
(N=435)
Neither Agree
Nor Disagree
Items’
Weighted
Disagree
Disagree
Strongly
Strongly
Average
Statements
Labels
Scores
Agree
Agree
When present health insurance company promise to do 115 235 14 61 10
REL 1 3.88
something by a certain time, it does so. (26.4) (54.0) (3.2) (14.0) (2.3)
When you have problems, present health insurance 114 216 32 60 13
REL 2 3.82
company is sympathetic and reassuring. (26.2) (49.7) (7.4) (13.8) (3.0)
19
97 203 46 70
REL 3 Present health insurance company is dependable. (4.4) 3.66
(22.3) (46.7) (10.6) (16.1)
Present health insurance company provides its services 114 236 14 55 16
REL 4 3.87
at the time it promises to do so. (26.2) (54.3) (3.2) (12.6) (3.7)
Present health insurance company keeps its records 109 246 28 38 14
REL 5 3.91
accurately (error free bills and documents). (25.1) (56.6) (6.4) (8.7) (3.2)
Overall Reliability’s Construct Score
3.83
(SD=0.93)
The overall reliability score calculates to be an average of agreement with all the statements of responsiveness
3.83 (SD = 0.93) as depicted in the table 2. Thus, result dimension of service quality as provided by their health
indicates that the overall customers‟ have modest level of insurance companies, viz. „Present health insurance
positive feeling about the reliability of the services of the company does not tell customers exactly when services will
health insurance companies. be performed‟ (69.9 per cent); „You do not receive prompt
service from employees of present health insurance
RESPONSIVENESS
company‟ (73.6 per cent); „Employees of present health
Responsiveness dimension emphasizes on the willingness insurance company are not always willing to help
to help the customers and provide prompt services customers‟ (73.8 per cent),; „Employees of present health
(Parasuraman et. al., 1988). Table 3 portrays that a insurance company are too busy to respond to customers‟
maximum proportion of policyholders have shown their requests promptly‟ (74% per cent).
TABLE: 3
REGARDING RESPONESIVENESS DIMENSION OF SERVICE QUALITY
(N=435)
Agree Nor
Weighted
Items’
Disagree
Disagree
Disagree
Strongly
Strongly
Average
Neither
Statements
Scores
Agree
Agree
Labels
Present health insurance company does not tell 82 222 26 88 17

RESP 1 3.61
customers exactly when services will be performed. (18.9) (51.0) (6.0) (20.2) (3.9)
You do not receive prompt service from employees 104 216 25 66 24
RESP 2 3.71
of present health insurance company. (23.9) (49.7) (5.7) (15.2) (5.5)
Employees of present health insurance company are 104 217 22 70 22
RESP 3 3.71
not always willing to help customers. (23.9) (49.9) (5.1) (16.1) (5.1)
Employees of present health insurance company are 127 195 25 69 19
RESP 4 3.79
too busy to respond to customers‟ requests promptly. (29.2) (44.8) (5.7) (15.9) (4.4)
Overall Responsiveness’s Construct Score
3.70
(SD=1.08)
The average responsiveness score of 3.70 (SD=1.08) as ASSURANCE

reflected in table 3 suggested that the health insurance
Assurance dimension associated with the knowledge and
companies have been able to show moderate level
courtesy of employees; and also, on their ability to inspire
willingness to help the customers.
trust and confidence among their customers regarding the
services of service provider (Parasuraman et. al., 1988).
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Table 4 depicts that the maximum percentage of „Employees get adequate support from the present health
respondents agreed with the following statements, that are, insurance company to do their jobs well‟ (81.6 per cent).
„You can trust the employees of present health insurance
Table 4 reflects that the assurance dimension in the
company‟ (76.1 per cent); „You feel safe in your
underlying study has average score of 3.81 (SD = 0.86);
transaction with the present health insurance company‟s
indicating that the customers were impressed to the
employees‟ (81.4 per cent); „Employees of the present
moderate extent with the knowledge and courtesy of
health insurance company are polite‟ (85.5 per cent);
employees of health insurance companies.
TABLE: 4
REGARDING ASSURANCE DIMENSION OF SERVICE QUALITY
(N=435)
Agree Nor
Weighted
Disagree
Disagree
Disagree
Strongly
Strongly
Average
Items’
Neither
Scores
Statements
Agree
Agree
Labels
70 261 19 63 22
ASS 1 You can trust the employees of present health insurance company. 3.68
(16.1) (60.0) (4.4) (14.5) (5.1)
You feel safe in your transaction with the present health insurance 80 274 16 52 13
ASS 2 3.82
company‟s employees. (18.4) (63.0) (3.7) (12.0) (3.0)
75 297 12 42 9
ASS 3 Employees of the present health insurance company are polite. 3.89
(17.2) (68.3) (2.8) (9.7) (2.1)
Employees get adequate support from the present health insurance 84 271 19 47 14
ASS 4 3.84
company to do their jobs well. (19.3) (62.3) (4.4) (10.8) (3.2)
Overall Assurance’s Construct Score
3.81
(SD=0.86)
EMPATHY company do not know about your needs‟ (72.4 per cent);
„Present health insurance company does not have your best
Empathy dimension reflects the caring, individualized
interests at heart‟ (68.7 per cent); „Present health insurance
attention which is given by a firm to its customers, while
company does not have operating hours convenient to all
delivering service (Parasuraman et. al., 1988). Table 5
their customers‟ (73.4 per cent).
illustrates that a substantial percentage of respondents have
agreed towards the statements, viz. „Present health Below table also reflects that the average empathy score
insurance company does not give individual attention to was 3.67 (SD = 1.09) which signified that the health
you‟ (66.2 per cent); „Employees of present health insurance companies have been able to assure just moderate
insurance company do not give personal attention to you‟ level of empathy in delivering of services to their
(70.6 per cent); „Employees of present health insurance customers.
TABLE: 5
REGARDING EMPATHY DIMENSION OF SERVICE QUALITY
(N=435)
Agree Nor
Weighted
Disagree
Disagree
Disagree
Strongly
Strongly
Average
Items’
Neither
Scores
Statements
Agree
Agree
Labels
Present health insurance company does not give individual 86 202 40 81 26

EMP 1 3.55
attention to you. (19.8) (46.4) (9.2) (18.6) (6.0)
Employees of present health insurance company do not give 114 193 31 68 29
EMP 2 3.68
personal attention to you. (26.2) (44.4) (7.1) (15.6) (6.7)
Employees of present health insurance company do not know 118 197 30 66 24
EMP 3 3.73
about your needs. (27.1) (45.3) (6.9) (15.2) (5.5)
Present health insurance company does not have your best 115 184 30 81 25
EMP 4 3.65
interests at heart. (26.4) (42.3) (6.9) (18.6) (5.7)
Present health insurance company does not have operating hours 99 220 26 71 19
EMP 5 3.71
convenient to all their customers. (22.8) (50.6) (6.0) (16.3) (4.4)
Overall Empathy’s Construct Score
3.67
(SD=1.09)
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Overall, it may be concluded that the customers have 5. www.jstor.com
moderate to high level of positive attitude towards the 6. www.mohfw.nic.in
different dimensions of service quality which has been
7. www.mospi.nic.in
provided by the surveyed health insurance companies while
delivering their services. 8. www.omicsonline.org
9. www.policybazar.com
CONCLUSION
10. www.ssrn.com
It can be concluded on the basis of the findings of the study
the customers had very positive feeling toward the tangible
dimension of service quality and moderate feeling toward
the reliability dimension of service quality. Also, the
customers had moderate level of attitude towards the
responsiveness, assurance and empathy dimension of the
service quality. Overall, it may be concluded that the
customers had modest to high level of positive attitude
towards the service quality of the health insurance
companies.
SUGGESTIONS
It is suggested on the findings of the study that health
insurance companies should increase the services towards
reliability, responsiveness, assurance and empathy
dimension which depicted services at moderate level.
Health insurance companies should increase their efforts on
these dimensions. So that customers can get services at
their level of expectations from their services providers.
REFERENCES
1. Bhat, Ramesh and Reuben, Elan Benjamin (2002), “Management
of Claims and Reimbursements: The Case of Mediclaim
Insurance Policy”, Vikalpa, Vol. 27, No. 4, October-December
2002.
2. Amponsah, Edward Nketiah and Ulrich, Hiemenz (2009),
“Determinants of Consumer Satisfaction of Health Care in Ghana:
Does Choice of Health Care Provider Matter?”, Global Journal of
Health Science, Vol. 1, No. 2.
3. Borah, Sarat (2012), “Customer Satisfaction on Products of
Private Sector Insurance Companies- A Study with reference of
Kotak Mahindra Life Insurance Company Limited - Jorhat
Branch”, Indian Journal of Research, Vol.1, pp. 85-89.
4. Drucker, P. (1991). Innovation and entrepreneurship: Practice and
Principles. Louisiana, Louisiana State University Press.
5. Bloemer, J., K. Ruyter, et al. (1999). "Linking perceived service
quality and service loyalty: a multi-dimensional perspective."
European Journal of Marketing 33(11/12): 1082- 1106.
6. Cronin, J. Joseph and Taylor, Steven A. (1992), “Measuring
Service Quality: A Re-examination and Extension”, Journal of
Marketing, Vol. 56, July, pp. 55-68.
7. Parasuraman, A., Zeithaml, V., & Berry, L. (1988). SERVQUAL:
A multiple-item scale for measuring consumer perceptions of
service quality. Journal of Retailing, Vol. 64(1), pp. 29-40.
8. Brown, T.J., Churchill, G.A. And Peter, J.P. (1993). Improving
the Measurement of Service Quality. Journal of Retailing, 69 (No.
1), pp. 127-139.
WEBSITES
1. www.irda.org.in
2. www.esic.nic.in
3. www.healthinsuranceindia.org
4. www.irda.org
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EMPLOYEE DEVELOPMENT AND QUALITY OF LIFE: TLF APPROACH
* **
Ankita Singh Rajesh Singh ***Bijendra Kumar Pushkar
*
MBA Second Year Student Department of Humanities and Management Science, Madan Mohan
Malaviya University of Technology, Gorakhpur, Uttar Pradesh
**
Assistant Professor, Department of Humanities and Management Science, Madan Mohan
***
ABSTRACT
A better quality of life is important for increasing the satisfaction level of employees. If the employee will
be satisfied, then he/she will work efficiently to accomplish the ultimate objectives and goals of an
organization and for career growth. This paper aims to improve the employee's professional and
personal quality of life by procuring them suitable training and development modules to provide them
job satisfaction. Taguchi method is a statistical process used for the improvement of the quality of the
product by reducing the cost. Taguchi explained that a drop in quality occurs when the customer is not
satisfied by using the product which he purchased at a given price within a period. The study concludes
that for making employee's quality of life their development and enhancement of their skills, knowledge,
and exposure, etc is significant. Taguchi loss function helps to manage the quality of employee’s life by
providing the development program. This study contributes to identifying the controlled and non-
controlled factors of employee development forimproving the professional and personal life of
employees.
Keywords: Quality of Life, Job satisfaction, Taguchi method, Training and development, Controlled and
non-controlled factors, Employees.
INTRODUCTION the commodity is not following conditions that are
explained in Taguchi's loss function. (Brown et al., 2004)
Employee Development is important for Human Resource
Management. Employee Development refers to enhance LITERATURE REVIEW
knowledge and skills. (Hameed, 2011) Employees should
Motivation:-
attend training programs or development activities to learn
new ideas, skills, or concepts. Employee Development is In the Organization, there are developed employees who
used to enhance the abilities and efficiency of the know many things and they perform their best in the
individual or employee which helps the organization to organization. Their personal and professional lives are
achieve its target or goals. It is essential to enhance the developed in an appropriate style. Their every requirement,
skills, knowledge, etc of employees, from time to time to need, etc; everything is fulfilled. But when we see it from
meet with the technology updates and to learn new skills the point of view of underdeveloped employees and
and techniques which help in the development or progress observe based on societal and managerial implications that
of the organization. it needs to do some efforts for them. So, that their
knowledge, skills, exposure, the experience can also
Quality of life means the things that we need for a classic
develop, they also able to perform the tasks efficiently in an
quality of life. It is the standard evaluation of health, and
organization. Their lifestyle can also develop, their quality
positive and negative effects, comfort, and happiness
of life can also be different, their wants or deficit can also
experienced by an individual or group of people.
fulfill. For the improvement and development of those
(Srivastava et al., 2014) The Quality of life model is based
employees and their quality of life, I get motivated to
on the categories individuality(existence of entity),
suggest or recommend something which will be helpful for
acceptance(sense of security in friendship), and
those underdeveloped employees and help them in
befitting(appropriate for achieving goals) The conception
developing and improving their life.
of "quality of life" is to fulfil the basic needs of individual
or group of people like well-being, happiness, morale, life Lofthouse (1999) study “The Taguchi Loss Function” in
satisfaction, job satisfaction. which he explained that Taguchi has evolved two steps-
Quality of life does not immediately diminish and
individual and social costs do not ascend immediately when
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 Upgrading the plan of the commodity or procedure by Jessica Li Roland, (2016), the topic of study is “Quality of
manufacturing the commodity in the finest way utmost work-life and career development: perceptions of part-time
of the extent with lower variation from the objectives MBA students”, in this paper review, what employee
 The uncontrollable factors influence ensuring that the observe as a negative and positive condition of their
products produced are identical (in products variation (action) work and how their decision of career and concept
is minimum) for designing the insensitive product or of quality work-life (QWL) affects.(Li et al., 2011)
process. (Lofthouse, 1999) M. Ben-daya,(2016), "The integration Taguchi‟s loss
Park (1996) in his book “robust design and Analysis function approach in the economic design of x ¯-chart”, in
for Quality engineering”, explained thatin the robust this paper the economics design of the control
design there are two crucial tools are used. These are:- chartredefines out-control and in-control costs by
incorporated the Taguchi‟s method. (Authors, 2003)
 Quality with emphasis on deviation measured by signal
to noise ratio Haozhe Chen, (2019) “Returns management employee
 Many design factors are accommodated by orthogonal development: antecedents and outcomes”, In this research
arrays (Park, 1996) investigation of the employee development antecedents and
impact with in the area of relations management that are
Phadke (1989) in “Quality engineering using Robust challenging. (Chen et al., 2019)
Design”, stated the noise factor are classified into three
origins that are represented by the deviations- Khawaja jehanzeb(2020) is studied in employee
development: "Does perceived organizational support and
 One to one deviation: It is produced by the deviation in employee development influence organizational citizenship
substance, apparatus execution, and craftsmanship behavior?", It examines the relation between OCB
 Environment factor: The noise occurred because of (organizational citizenship behavior) employee
environmental condition neighboring the processes development, and POS (perceived organizational support)
 Devaluation factor: It‟s include depreciation of the while allowing for the deliberating result of P-O (person-
machines or items and usable or edible products used organization) on the union. (Jehanzeb, 2020)
in the process (Phadke, 1989)
RESEARCH GAP
Juran(1999),Juran is the father of quality of life. The
The employee development gap increases because the
Jurantrilogy provides steps to top-level management for the
employee only focuses on his professional and career
improvement of projects. The Juran Trilogy models are
Quality planning(Quality and plan), Quality development opportunities in the organization and
managers' efforts for the development of employees.
control(Controlling process and managerial), Quality
Managers don't have knowledge or information about what
improvement(Lean Six Sigma). (Quality Handbook.Pdf,
their employees or team members want. If the managers
n.d.)
don't know what their employee wants or how to improve
Philips Crosby(1979) „Quality is free „sets a program to the employee‟s quality of life, his effort will be not helpful
implement easily by using genuine case histories to or maybe misguided and lack of resources is also increase
establish that how to control and manage the quality and the employee development gap. So, to improve employee
provide a certain instrument for success. (Quality - development, managers should provide more opportunities
Crosby.Pdf, n.d.) and resources for professional growth. A manager must
have also the knowledge of what his employees or team
Pugalendhi (2011) “Quality of Work Life: Perception of
members are interested in or find important for professional
college teachers”,this study disclosed the significance of
development.
totalwork-life quality concerning the quality of life in the
total teaching environment. They stated that the QWL OBJECTIVES
concept is essential for a favorable situation in a working
environment and also established that according to its  Identify the controlled and non-controlled factors of
working level, the quality of college teachers is low. the employee's development.
(Bharathi, 2011)  Improving the employee's quality of life by the origin
of Taguchi Loss Function
Ursula Hoyningen-Su ¨ess, (2012) study about “Tools for
surveying and improving the quality of life: people with METHODOLOGY
special needs in focus”. The study focuses on surveys and Identification of problem-
the betterment of incapacitated Quality of lifeof people‟s by
defining online tools. By using diagnostic tools quality of The manager thinks that he is providing the right training
disabled people's life evaluated and analyzed and define the and activities program for the employee but on the other
factors that affect their life quality and recommend hand employee thinks that he is not getting the proper
enhancement by using planning tools. (Ursula Hoyningen- training and priority that he needs and not satisfy with the
Süess, 2012) facilities he gets. So, the problem is how to satisfy the
employee or how to know that employee is satisfied or not
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with the treatment he gets in the organization. To solve this NON-CONTROLLABLE FACTORS OF EMPLOYEE
problem managers should use Taguchi loss function, which DEVELOPMENT-
will help to improve or eliminate the error or defect that
1. Manager working relationship- In any organization,
occur between manager and employee inan organization.
the healthy relation of employees with other employees
CONTROLLABLE FACTORS OF EMPLOYEE or managers is essential because a healthy relationship
DEVELOPMENT- can improve productivity, it can boost your career, and
help in achieving success.
1. Career development opportunities-Employee
development provides a special training program and 2. Biased authority-In any organization, the authority
different courses which help employees to learn about should not be biased. Every person has provided
the new skills and technology and help in gathering authority according to their position and they all have
extra knowledge which develops different opportunity given equal chances to speak and give suggestion to
for employees. achieve the goals or overcome from the problems
occur in organizations.
2. Adopt a learning culture- The Business environment
is dynamic in nature. It keeps changing according to 3. Employee health-Employee health and well being is
time, time to time new technologies is innovated and to an essential factor of any successful organization. If
make update the employees about the technology the employees are healthy, they can perform the assigned
adaptation of learning culture is necessary. job efficiently. The health of an employee determines
the overall productivity of the organization.
3. Better motivation- In any organization, motivation is a
very important factor that helps the employees for 4. Time is taken to complete the goals- To achieve any
achieving the ultimate organizational goals and goals and objectives, some periods are required. To
objectives. If the employee is motivated, then he can complete the task swiftly, employees have to manage
perform the given task efficiently and effectively. the time and work in an organized way.
4. Job satisfaction- If the employee is not satisfied with 5. Technological changes- The changes that come in the
the job, he will be not able to work according to his business environment are important for organizations
capability. To perform the task efficiently, the because changes provide flexibility in working.
employee should be satisfied with his job and some Modernized technology makes the work of employees
authority and basic requirement of the employee easy and efficient.
should be provided to him. Salary and incentives are
TAGUCHI LOSS FUNCTION
provided according to their work performed.
Japanese quality expert Genichi Taguchi developed the
5. Completed training and courses- Main aim of
Taguchi loss function. Taguchi's method is aimed at quality
employee development are to develop the employee by
improvement. Taguchi loss method is a methodology to
providing those special training programs and courses
enhance the quality of the product by reducing the cost.
which enhance their knowledge and skills about the
Taguchi believed that variations in production could
change in technology and changes that occur in the
improve quality or help in quality control. He deliberated a
business environment.
three-point methodology to address the issues. These
are:System design, Parameter design, Tolerance
design(Lofthouse, 1999)
It can be characterized as:
1. Two-sided equivalent detail Taguchi work
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2. Side minimum-limit function
3. One-sided maximum-specification limit function
F(x) = D(t-n)2 (1)

Here,
5 Professional skills
F(x) =L0SS FUNC () from the goal worth,
6 Job satisfaction
t = TARGET regard,
7 Job fit
n=N0MINALvalue of the specific,
8 Technical training
D= deviation coefficient
9 Appearance
STEPS FOR THE TAGUCHI METHOD
10 Response at workplace
The main steps for the valuation of performance through
the T.L.F: 2. Noise factors:
1. The identification of main functions 1. Duration of completion of work
2. Identification of the noise and control factors of the
2. Biased authority
performance evaluation
3. Selecting the control factors and their level 3. Faulty equipment
4. Conduction of the experiment
4. Relation with the co-worker
5. Analysis of the data
5. Work arena
For the evaluation of the performance the control and
noise factors are as follows: The objective function for this will be:
1. Control factors: Smaller-the-better.
1 Absenteeism  There will be 3 control factors with 3 levels:
2 Customer review These factors were selected after the various consideration
3 Contribution cost and brainstorming session which was conducted with the
help of the team and their guidelines.
4 Knowledge about the job
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Table I. Levels of C.F
C.F. Levels
I II III
Absenteeism(monthly) 5 6 7
Knowledge about 70 60 50
Job (below %)
Completion time(day) 25 27 29
Orthogonal array selection:

We have taken the (OA) L9 array in this Taguchi loss function method for studying the performance and quality function
of the employees.
Table II.Orthogonal array
Experiments Control factors
1 2 3
1 1 1 1
2 1 2 2
3 1 3 3
4 2 3 1
5 2 1 2
6 2 2 3
7 3 2 1
8 3 3 2
9 3 1 3
Table III.The measured value of Completion Time

(DAYS)
Experimentno. Period involved incomplete task
1 2 3 4 5 Mean
1 25 27 29 26 28 27
2 26 25 30 24 23 25.6
3 27 26 28 23 22 25.2
4 29 21 23 27 29 25.8
5 28 25 25 23 26 25.4
6 24 27 23 22 20 23.2
7 30 23 26 20 22 24.2
8 29 27 21 25 30 26.4
9 28 28 29 24 25 26.8
EXPERIMENTATION DETAILS AND ASSESSMENT OF DATA:

The data of the experiment is collected and then analyzed for the calculation of the sign-to-noise rate (proportion).
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Table IV. S/N ratio
Experiment no. Ratio
1 -28.6
2 -28.16
3 -28.02
4 -28.23
5 -28.09
6 -27.30
7 -27.67
8 -28.43
9 -28.56
RESULTS
In the Taguchi loss function, Taguchi represents 2. Shefali Srivastava, Rooma Kanpur (2014), “A Study on Quality of
graphically that a person is satisfied as long as variation in Work Life: Key Elements & its Implications” IOSR Journal of
the products stays within a standard limit The quality of the Business and Management (IOSR-JBM) e-ISSN: 2278-487X, p-
employee's professional and personal life develops only ISSN: 2319-7668. Volume 16, Issue 3. Ver. I, PP 54-59
when he is satisfied with the change in variation of standard 3. Jackie Brown+, Ann Bowling++, Terry Flynn+ (2004), “Models of
limit that he gets in the job opportunities and training Quality of Life: A Taxonomy, Overview and Systematic Review of
the Literature” European Forum on Population Ageing Research
activities. If he/she does not get training modules and
opportunities according to their desire they will get 4. Lofthouse, t., (1999)“ The Taguchi Loss Function”, work stud., 48:
dissatisfied. 218-223
5. Park, S.H., (1996) Robust Design and Analysis for Quality
LIMITATIONS AND FUTURE SCOPE Engineering. 1stEdn., Chapman and Hall, London, UK.
In the Taguchi loss function, standard limits do not separate 6. Phadke, M.S. (1989) "Quality Engineering Using Robust Design",
the level of satisfaction of the employees. The Taguchi Prentice-Hall International.
function shows the increase or decreases limits in the form 7. Juran, J.M. (1999) "Juran‟sQuality Control Handbook", 5th edition,
of lower and upper but not in terms of numbers and any McGraw-Hill Publications.
variation from target values leads to the dissatisfaction of 8. Crosby, P. B. (1979) “Quality is Free”, New York, McGraw-Hill
employees or workers. The dissatisfaction of employees Publishers.
and workers leads to loss of cost and quality both. The
9. Pugalendhi et al (2011), "Quality of Work Life: Perception of
variation directly affects the quality and satisfaction of the college teachers”MPRA (Munich Personal RePEc Archive) Paper
employee and the cost of an organization. No. 27868
CONCLUSION 10. Ursula Hoyningen-Süess David Oberholzer René

StalderUrsBrügger, (2012), "Tools for surveying and improving the
The study reveals that better quality of life of employee quality of life: people with special needs in focus", International
helps to achieve the ultimate goals of an organization and Journal of Health Care Quality Assurance, Vol. 25 Iss 7 pp. 592 -
603
help in the growth of an organization. An unsatisfied
employee is a loss for the organization and if the employee 11. Jessica Li Roland K. Yeo, (2011), "Quality of work-life and career
is satisfied with the job and training modules then they will development: perceptions of part-time MBA students", Employee
Relations, Vol. 33 Iss 3 pp. 201 - 220
be beneficial for the organization and by providing them
training and development modules, helps them to use their 12. M. Ben-Daya S.O. Duffuaa, (2003), "Integration of Taguchi's loss
function approach in the economic design of x¯-chart", International
corresponding skills, etc to achieve ultimate goals. Journal of Quality & Reliability Management, Vol. 20 Iss 5 pp. 607 -
The evaluation of employee's Performance is also helping 619
in the improvement of the quality furthest reaches of 13. Haozhe Chen, Stefan E. Genchev, Geoff Willis, Benjamin
specialists and lowers the hazard of disappointment Griffis(2019), “Returns management employee development:
antecedents and outcomes”,The International Journal of Logistics
comparatively as aides in allotting the correct development
Management Vol. 30 No. 4, 2019 pp. 1016-1038.
to the perfect individual. The study of the research paper is
focused on identifying the controlled and non-controlled 14. Khawaja jehanzeb(2020), "Does perceived organizational support
and employee development influence organizational citizenship
factors of employee development and improving the behavior?", European Journal of Training and Development.
Quality of the professional and personal life of employees
by selecting and analysing the controlled factors by using
the Taguchi loss function.
REFERENCES
1. Abdul Hameed &AamerWaheed (2011), “Employee Development
and Its Effect on Employee Performance A Conceptual
Framework”International Journal of Business and Social Science
Vol. 2 No. 13, PP 224-229
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ASSESSMENT OF MD&A READABILITY USING FLESCH READABILITY
FORMULA: A STUDY OF INDIAN COMPANIES
*
Vijay Singh **Himani
*
Assistant Professor, Department of Commerce, Indira Gandhi University, Meerpur –Rewari
(Haryana)
**
Research Scholar, Department of Commerce, Indira Gandhi University, Meerpur –Rewari
(Haryana)
ABSTRACT
In this study, the easiness of reading the Management Analysis and Discussion (MD&A) reports of
seven companies listed in Bombay Stock Exchange has been checked. This study has applied the Flesch
readability formula for checking the readability of the MD&A reports of these seven companies and the
Flesch read score is not found to be so satisfactorily from the chosen sample. So, it is suggested that
there is need to improve the content, language and the vocability by the companies inIndian context with
regard to MD&A disclosures and further, the length of sentences and words should be kept shorter for
providing effective understanding of the text of MD&A report. And use of passive voice in sentences
should also be reduced to ensure the right meaning of what management wants to convey to their
stakeholders.
Key Words: MD&A, Readability, Flesch Readability Formula, Listed companies
INTRODUCTION
Stakeholders of a company generally want to know about number of passive voice sentences and words are easier to
the company's performance, risk associated, future plans, read.“Readability tries to match the ability of reader and
the employees and what unique skills a company is text and then tries to get the ease to read of a text for the
possessing to increase its market value. Annual reports are reader.Readability is that quality in writing which results in
considered as the main tool for the company to quick and easy communication“(Chall & E, 1948).It shows
communicate with its stakeholders (Courtis J. K., 1987). In readability of text is the most important element for
today's scenario, almost every big company is showing all communication. It has been observed that there is an
such information through their annual reports. These increase in stock trading and stock trading volume after
reports are thus quite useful for the stakeholders of the presentation of MD&A in the annual reports. Therefore, it
company and these reports are prepared by companies at clears that the readability level of MD&A disclosures
the end year, which can be either calendar year or fiscal occupies important concern as far as their usefulness is
year (Islam, 2018). Nowadays, listed companies are also concerned.
presenting their management discussion and analysis
LITERATURE REVIEW
(MD&A) report in their annual reports in India as per
LODR (Listing Obligation and Disclosure Requirement) No doubt, several researchers have worked on the
2016. MD&A report shows both financial and non- measurement on the readability of MD&A given in annual
financial information of the companies at one place in the reports. Nicholas & Gibson, 1990had done an experiment
annual report. It provides an overall image of the on the readability of MD&A reports with ease and made an
organization‟s disclosures directly from the eyes of the effort to quantify the readability computation for the
management. Overall, almost every listed company interpretation in the MD&A and also the president‟s letter
provides MD&A reports in their annual reports in India. and they result that many firms did not present their
But the ease of reading the contents of this MD&A report is MD&A reports in a simple and easy understanding manner
a big concern in fact a challenge. It means whether the and missed the opportunity to improve the financial report
report is easy to read or not. Considering both kind of communications.. Li, 2006had examined the readability and
information i.e. qualitative and quantitative, annual reports the writing style of annual reports of the companiesby using
are intended to be beneficial for the readers for taking their the large firms sample from 1993 to 2003 for predicting
decisions (IASB, 2010). future firm earnings& returns and the study resulted that
firms with poor performance publish hard reading reports
CONCEPT OF READABILITY
while profitable firms with more complicated reports have a
The word readability is showing how simple and easy to low level of consistency in earnings, but these measures are
read a text is. The main components of the readability are not correlated with future stock returns.
shorter words, shorter sentences, fewer syllables, less
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Yusuf & Jordon, 2017found that the accessibility of readable writing style and use of less passive voice
MD&A by the state government financial reports. sentences than notes to the accounts.
Accessibility was checked on the basis of three parameters
OBJECTIVE AND METHODOLOGY
size, timeliness and readability. They have studied the
financial reports of 50 state governments from the period This study aims to check the readability ease of selected
2009-2012. They concluded that only a few state companies listed in Bombay Stock Exchange (BSE) and to
governments in the USA were presenting their MD&A explore the relationship among the dimensions of
which are easily accessible by the readers. There was lack readability with regard to MD&A reports of these
of adequacy of MD&A in giving information to the citizens companies.
about government financial conditions. Also, the existing
This study has examined the MD&A reports of the top
financial reporting of governmentis neither crystal clear nor
user-friendly for the citizens. seven companies listed in BSE. These companies were
selected on the basis of their market capitalization as on
Ernfjord & Gustafsson, 2014 studied the readability and 18th July, 2020 and they all have the MD&A reports in
amount of revelation of sustainable reporting in Sweden in their annual reports for a wider target audience. Also, these
financial crisis 2008 and they have used the „Flesch reading companies were having large market capitalization and thus
ease formula‟ for reading the easiness in reading the report. it is considered that they are representing different
They have concluded that readability, measured by the industries as well. Big companies are generally expected to
Flesch reading ease formula did not change during the provide more detailed reporting than smaller one(Courtis &
financial crisis of 2008, and the amount of revelation Hassan, 2002). Thus, MD&A reports of these top listed
increased. Moreno & Casasola, 2015 analyzed readability companies for the year 2019-2020 are considered.
of two Spanish companies and they have used the Flesch
reading ease formula for that. Nut Flesch ease formula TOOL FOR MEASURING READABILITY
considered the English language mainly. Their study has FLESCH READING EASE
shown the results that reports were hard to read but there is
an enhancement in the readability over the years. Richards, The most widely used tool for measuring the readability is
Fisher , & Staden studied the significant impression the Flesch readability formula developed by Flesch in 1948.
management strategies, thematic manipulation and reading This formula produces a score and this formula used word
ease manipulation among different corporate reports. Their length per sentences and number of syllables per word as
study concluded that disclosures with a constructive tone under:
are more readable than destructive tone. And CSR RE= 208.85-(1.015*ASL)-(84.0*ASW)
(corporate social responsibility) is more readable part of
annual reports than MD&A, Chairman's reports and CSR. ASL: Average word length per Sentences
Islam, 2018 measured the readability of corporate ASW: Average number of syllabus per word
governance by applying different tools of readability RE: Readability Ease
measurement such as Flesch Reading Ease Formula, Fog
index, Dal-Challe, Fry graph etc. and concluded that This study has considered five bases to check the overall
readability of corporate annual report were not same for readability of the reports. Those indicators are word length,
different companies and a relationship did exist between the sentence length, Flesch readability score, Flesch reading
performance of company and readability of annual reports.. ease index and use of passive voice.
Mohmad & Rahman, 2006 analyzed the two sections of The text is considered in a good readable format when it
MD&A reports i.e. notes to the accounts and chairman‟ has short sentences, short words and less use of passive
letter and taken 100 Malaysian companies listed on the voice sentences. Thus, Flesch readability score is a formula
stock exchange and studied the readability of both these which gives a score on 1 to 100 point scale. Higher score
sections by using a Flesch Reading Ease Score. Thushe means more ease in readability like short words, sentences
found that chairman' report had been presented in a more and less use of passive voices. The readability score is
classified as various levels of reading ease as in Table 1.
Table 1- Flesch score and reading ease level
Ease of readability Readability score
Very easy to read, easily understood by an average 11-year-old student 90-100
Easy to read 80-90
Fairly easy to read 70-80
Easily understood by 13- to 15-year-old students 60-70
Fairly difficult to read 50-60
Difficult to read, best understood by college graduates 30-50
Very difficult to read, best understood by university graduates 0-30
Source:https://en.wikipedia.org/wiki/Flesch%E2%80%93Kincaid_readability_tests
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CALCULATION OF READABILITY STATISTICS of sentences, percentage of words per sentences, length of
sentences per paragraphs, Flesch readability score etc. are
This study is generally considering top companies of the
determined.
BSE 30 index on the basis of market capitalization. It has
been observed that big corporations published their annual After getting all relevant factors which influence the
reports for a large targeted audience (Courtis & Hassan, readability of the MD&A reports like word length, sentence
2002). The researchers obtained the annual reports of these length, Flesch reading ease index and use of passive voice
companies from their respective official websites and then (Mohmad & Rahman, 2006). The collected data was
extracted the MD&A reports from them. After getting the organized into the SPSS file and further descriptive were
PDFversion of the MD&A reports, PDF files were analyzed like the mean, standard deviation, minimum
converted into MS word files by using a website “I love maximum etc. and then correlation among words,
PDF to word”. MS word is opted as a tool to get the Flesch sentences, passive voice sentences, Flesch reading score
readability score (Attamimi & Ameer, 2010)(S., 2006). The and Flesch reading grade was studied. The whole analysis
grammar option of MS word software is used to check the is presented here in the tabulated format as in table 2, table
readability of each MD&A report. And a detailed statistics 3, and table 4.
of readability like length of sentences, word length, length
ANALYSIS AND RESULTS

Table 2- Readability score
Maximum Minimum Average
Flesch Readability Score 29.40 14.50 23.36
Source: Compiled from the annual reports (2019-2020) of these companies

This table is showing the Flesch reading ease score of the 23.36, which is the lowest level provided by the Fischer
top seven listed companies. From the above table, it is index model. Thus, in overall, it can be concluded that there
found that the highest reading ease score has been achieved is a very hard level in reading of MD&A reports presented
is 29.4%, while 14.5 the lowest among these seven by these companies and can be read by experts and
companies. But it is also evident that most of the companies specialized people. Thus, regulators must have to check in
are scoring between 20-30 Flesch index scores. Thus, from for regularizing such practices as far as enhancing the
table 1, it can be inferred that the average reading score of usefulness of MD&A reports is concerned.
all the selected companies are lying in between 0-30 that is
Table 3-Descriptive statistics of the factors of Readability of MD&A Reports

Words Sentences Passive Sentences Flesch Reading Ease Flesch Kincaid Index
Minimum 17324.00 710.00 10.00 14.50 14.10
Maximum 71939.00 2437.00 20.00 29.40 16.90
Mean 29897.00 1096.00 15.14 23.35 15.10
Std. Deviation 19162.62 613.55 3.28 5.07 1.05
Descriptive analysis of the readability dimensions of a text is not considered good in Flesch reading ease score. So,
like word length, jumper of sentences, number of passive here the minimum passive voice used in the MD&A report
voice, Flesch reading ease score and Flesch Kincaid index was only 10 while the maximum was 20. So, it is good here
is mentioned in table 3. Thus, the table presents that the to see that on an average only 15 passive voice sentences
minimum word length used in a MD&A report was 17324 were used in all the MD&A reports of those seven
and the maximum were 71939, almost 4 times more than companies. And the variance is also low. Minimum score
the minimum one while the standard deviation is not so far. of Flesch reading ease was 14.5and maximum 29.4. And on
The minimum number of sentences in the MD&A report an average, it has been 23.357, which is still low and not
were 710 while the maximum were 2437. But the variation considered under a good reading level as far as MD&A
is very high in the sentences, use of more passive sentences reports are concerned
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Table 4: Relationship among different aspects of MD&A Report
Length of Length of Number of passive
words sentences voice sentences Flesch Kincaid grade level Flesch reading ease
Pearson Words 1.00 .82 .35 .19 -.60
coefficient
Sentences 1.00 .393 .05 -.21
Passive Sentences 1.00 .83 -.46
Flesch Kincaid Grade 1.00 -.66

Level
Flesch Reading Ease 1.000

In this table, words &sentences and passive statements & can be used to test the applicability of the Flesch Reading
Flesch Kincaid grade level are found to be highly positively Formula.
correlated with each other. But, all other factors like length
REFERENCES
of words, length of sentences, and use of passive statements
and Flesch Kincaid grade level are negatively correlated
with the Reading ease. If we see the length of words, length 1. Attamimi, A. A., & Ameer, R. (2010). Readability of Corporate
of the sentences and number of passive sentences, then it is Social Responsibility Communication in Malaysia. Corporate
observed that word length is highly negatively correlated Social Responsibility and Environmental Management.
with the Flesch reading ease score than the length of 2. Chall, J. S., & E, D. (1948, 37-54). A formula for predicting
sentences and number of passive sentences. Although, these readability. This Week’s Citation Classic.
two (length of sentences and passive sentences) are also
3. Commission, S. E. (2003). Interpretaion: Commisssion
correlated but not that much as the length of words are. So Guidance Regarding Managemnet's Discussion and Analysis of
from here, it can be concluded that, the more the word Financial Condition Anad Results of Operation. New York: U.S.
length in MD&A reports, the lesser the reading score and Securities and Exchange Commission.
vice versa. In the same way, companies must have to use 4. Courtis, J. K. (1986). An Investigation into Annual Report
less length of sentences and less number of passive voice Readability and Corporate Risk-Return Relationships. Autumn,
sentences in the reports to make it easier to read. 285-294.
5. Courtis, J. K. (1987). Fry, Smog, Lix and Rix: Insinuations
CONCLUSION About Corporate Business Communications. Corporate Business
The readability of MD&A disclosures of the Indian Communication, 19-27.
companies has been examined. As per this study based on 6. Courtis, J. K., & Hassan, S. (2002). Reading Ease of Bilingual
the MD&A of top seven listed companies of India, the Annual Reports . The Journal Of Business Communication, 394-
413.
overall findings are showing that the readability score is not
satisfactory. The overall score was below 30, as shown in 7. Ernfjord, K., & Gustafsson, C. (2014). Readability in
table1, which is considered to be tough for a common Sustainable Reproting Before & After the Financial Crisis 2008.
Corporate Governance & Readability of Annual Reports.
person to analyze and interpret it. Secondly, it is found that
more the length of words in a sentence and more number of 8. Islam, M. S. (2018). Corporate Governance and Readability of
Annual Reports. Global Encyclopedia of Public Administration,
sentences in a paragraph are negatively correlated with Public Policy, and Governance, , 1-6.
reading ease score. It means, to make ease in readability of
MD&A reports, it is needed to be short length of sentences 9. Li, F. (2006). Do Stock Markets Investors Understand the Risk
Sentiments of Corporate Annaul Reports?
and words. Further, it is found that, more number of passive
sentences in reports, makes the report less meaningful and 10. Lindrianasari, G. S. (2017). Management discussion and
hence, it becomes difficult to read and understand what the analysis, corporate governance perception index and market
reaction. Corporate Ownership and Control, 165-175.
report is indicating. So, it is also suggested that use of
passive voice should be minimum in an MD&A report for 11. Mohmad, R., & Rahman, A. A. (2006). Readability of Corporate
Annual Reports of Top 100 Malaysian Companies. Malaysian
successful accomplishment of objectives of MD&A Management Journal, 33-47.
disclosures.
12. Moreno, A., & Casasola, A. (2015). A Readability Evolution of
Moreover, the same aspect should be examined further by Narratives in Annual Reports: A Longitudinal Study of Two
taking more companies and time periods for MD&A Spanish Companies. Journal of Business and Technical
Communication , 202-235.
reports to know the readability of all the results of this
study. A comparison of Indian companies and foreign 13. Nicholas, S., & Gibson, C. (1990). Readability of Management's
companies can also be undertaken and other formulas or Discussion and Analysis. Accounting Horizon, 78-87.
tests available for knowing the readability level of reports 14. Paasche-Orlow, M. k., Taylor, H. A., & Brancati, L. F.
(2013). Readability Standards for Informed-Consent. The new
england journal of medicine, 721-726.
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15. Richards, G., Fisher , R., & Staden, C. V. (n.d.). Readability Government Financial Reports. Public Budgeting & Finance ,
and Thematic Manipulation in Corporate Communications: A 1-18.
Multi-Disclosure Investigation . 1-38.
18. https://readabilityformulas.com/Flesch-reading-ease-
16. S., S. (2006). Managment Control and Differences in readability-formula.php
Disclosure Levels: The Indian Scenario. The IFCAI Journal 19. https://yoast.com/Flesch-reading-ease-score/retrieved on
of Corporate Governance , 16-33. 24th july 2020.
17. YUSUF, J.-E. (., & Jordon, M. M. (2017). Accessibility of the
Management‟s Discussion and Analysis to Citizen Users of
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AN EMPIRICAL STUDY OF PRODUCT EVALUATION BY INDIAN
CONSUMERS WITH REFERENCE TO INDIAN PRODUCTS VIS-À-VIS
FOREIGN PRODUCTS
* **
Gaganpreet Kaur Kaushal Ratinder Kaur
*
Assistant Professor of Economics, Sri Guru Gobind Singh College, Chandigarh
**
Assistant Professor, School of Management Studies, Punjabi University, Patiala
ABSTRACT
With wide portfolio of choice to the consumers, competitive requirements of businesses have increased
worldwide. The scenario has become rather tougher for the developing nations like India where the
businesses have to constantly compete with the products from the developed countries. However, given
the amount of population and size of domestic market, Indian companies have got huge opportunity to
sell their products in India. This requires a favourable shift in the image of Indian products that most of
Indian consumers carry in their minds. This paper attempts to analyse the factors that determine the
product evaluation and consequent purchase decisions of Indian consumers and also to study the
perception of Indian consumers towards Indian products vis-à-vis global products with a view to bring
out measures that can help to increase purchase intention for Indian products.
INTRODUCTION
Under the impact of globalization, nations are getting 2020, India is the fifth largest economy in terms of nominal
integrated and so are the national markets. Consumers are GDP and it is the second largest market in terms of size of
at huge advantage with wide portfolio of choice and population. With growing incomes and huge amount of
varying price range giving them opportunity to buy the best population, India is becoming an attractive market for the
as per their need, preference and affordability. This fast- businesses worldwide. An equally important and interesting
changing scenario has thrown mountain challenge to the fact is that Indian businesses have an ample opportunity to
businesses worldwide to become more competitive in sell their products within the country that the developed
comparison to their rival brands. The competition becomes nations do not have because of their saturated markets and
rather tougher for the developing countries as the products economies.
from these nations are preferred generally less in
In the present volatile world where international economic
comparison to foreign brands from developed industrialized
upheavals have become a routine, it is extremely important
nations.Therefore, every nation now aspires to develop to a
for India to keep its fundamentals intact and strong with
level where its name becomes a brand in itself and
greater focus on its own businesses, own people and own
encourages people from all over the world to buy its
market. Vocal for Local Campaign being run by the present
products.
NDA government is all about encouraging local brands,
National branding helps to cut down the cost of advertising local manufacturing and supply chain. Along with
and promotion and therefore helps the nations to focus encouraging foreign brands having their manufacturing and
more on product attributes and prices. Therefore, branding assembly units in India, vocal for local campaign is about
and marketing is not an area of concern for businesses making Indian brands competitive vis-à-vis foreign brands
alone but an equal concern for the nations too. There is so that Indians start taking pride in their own brands rather
ample literature available on how the image of country of than preferring global brands.
origin affects the perception of consumers and their
For the success of vocal for local campaign, it is highly
purchase intention of foreign goods. Most of the relevant
important to analyse the factors that make Indians prefer
literature suggests that consumers perceive brands of
foreign brands over local brands.To grow in terms of
developed nations to be of better quality than those coming
manufacturing and to promote greater incomes and
from the developing nations. This often becomes a major
employment, its essential for a developing nation such as
cause of concern for businesses in developing nations as
India local brands and products are preferred over global
they are hit hard on two sides. Their products are not
brands whether imported or produced within.This would
trusted by foreigners in most of the nations and
be, undoubtedly, an ideal market scenario for Indian
local/indigenous customers also prefer to buy foreign
businesses.
products/brands rather than theindigenous brands.
Literature suggests that consumers’ perception about
India, being a developing nation, faces a similar kind of
different brands and products is largely determined by the
situation. As per IMF’s October World Economic Outlook
image of country of origin and image of country of origin is
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determined by level of economic and technological REVIEW OF LITERATURE
progress, political standing, its culture and tradition.
A lot of research has been carried out at the international
Country of origin effect on consumers’ quality and value
level to study the effect of made in label on the product
perception may be product specific or generalized. For
evaluations by consumers and their purchase intention.
instance, consumers may have positive quality perception
Schooler (1965)found that consumers in Central American
of swiss watches but it may not be true for all other swiss
market evaluated products with similar attributes very
products. When consumers’quality perception, whether
differently because of difference in made in label.
positive or negative, is confined to a particular productor
products, it happensbecause of comparative strength or Nagashima (1970) maintained that countries are
weakness in those few sectors but when perception of stereotyped based on their image which finally gives rise to
consumers is more generalized, national branding comes country-of-origin effect among consumers and this
into play. stereotyped image of nations is based on their industrial
development, production and marketing strengths, technical
Review of literature suggests that most of the studies on
and scientific progress, political and economic background,
country-of-origin effect on consumers’ behaviour are
emphasis on innovativeness and creativity, traditions,
conducted outside India and therefore could not capture the
culture and history.Bikley and Nes (1982) recorded strong
peculiar behaviour of Indian consumers.Very few studies
association between made in label and quality perception
have been conducted on Indian consumers but they also
and product evaluation by consumers.
failed to capture country of origin effect on consumers’
perception from view point of India’s distinct demography. Han and Tepestra (1988) concluded that consumers
Besides, almost all the studies have been conducted with perceive the image of country of origin on the basis of five
the orientation of finding the factors that can help dimensions: technical progress, prestige, level of economic
developed countries to understand how they can distribute advancement, workmanship and serviceability. Hong and
and sell their products conveniently and successfully in Wyer (1990) found that people in developing nations
developing nations by using country of origin effect as their perceive products from advanced countries to be
primary promotion strategy. There is hardly any study qualitatively better than their own local products. Jo (2005)
carried out to understand and analyse the factors that concluded that consumers consider country of origin as a
determine perception of Indian consumers regarding Indian major indicator of quality to form their perception about the
brands vis a vis global brands and how Indian companies product.
can enhancecompetitiveness of their brands vis a vis global
brands and improve consumers’ perception about them. Scott and Keith (2005) experimented whether country
stereotypes can be activated spontaneously in people’s
RESEARCH OBJECTIVES mind by mere spread of information about country of origin
and how far it affects product quality judgements of
As evident from the above discussion, country of origin
consumers without their intention or control.The study
effect created through made in label has the potential to
found that effect of country of origin gets activated
completely change consumers’ perception about the
automatically and it also affects consumers’ product
product and therefore should be a major point of
evaluations.
consideration while drawing the marketing strategy. There
are several factors responsible for general liking or Peng and Zou (2007) consumers judge the quality of
disliking for products/brands made in different countries products based on their attributes and if all the attributes of
and researchers have already studied and analysed these domestic product are comparable with the foreign product
factors in detail in previous studies. However very few then consumers evaluate domestic product more favourably
studies have been carried out to find the perception of than the foreign product. Lee and Lee (2009) found in their
Indian consumers as regards their own Indian study that effect of country of origin and product
brands/products vis a vis foreign brands and what role knowledge are inversely related. Higher the product
demographic characteristics of population play as far as knowledge, lower is the country-of-origin effect.
formation of consumers’ perception is concerned.The
present study runs with following objectives in mind: SCOPE AND DESIGN OF STUDY
1. To analyse the factors that determine the product The study has been carried out in the cities of Mohali,
Chandigarh and Panchkula together known as Tricity.The
evaluation and purchase decisions of Indian
study is based on primary data collected through a carefully
consumers.
designed questionnaire. Convenience Sampling method has
2. To studythe perception of Indian consumers
been used for the purpose. Due consideration has been
regarding Indian products vis-à-visglobalproducts.
3. To bring out measures that can helpto increase given to the various demographic aspects such as age,
purchase intention for Indian products. gender, occupation, level of education and income profile
of the people while deciding the sample group. Though
4. To make recommendations
questionnaires were sent to 180 respondents but six
questionnaires had to be rejected because of incomplete
information taking the actual size of sample to
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174.Demographic and income profile of the respondents is given in table 1.
Table 1: Demographic and Income Profile of the Respondents

Categories Frequency Percentage
Gender Female 85 48.85
Male 89 51.15
Total 174 100
Age 18 – 21 23 13.22
21 – 35 54 31.03
36 – 50 61 35.06
Above 50 36 20.69
Total 174 100
Educational Qualification 10+2 09 5.17
Graduation 89 51.15
Post-Graduation 65 37.36
Doctorate 07 4.02
Others 04 2.30
Total 174 100
Type of Employment Salaried 62 35.63
Business 56 32.18
Professional 31 17.82
Student 22 12.64
Others 03 1.73
Total 174 100
Annual Household Income (Rs) Less than 200000 24 13.79
200000-500000 53 30.46
500000-1000000 61 35.06
Above 1000000 36 20.69
Total 174 100
FINDINGS AND DISCUSSION toseveral questions on a five-point Likert scale ranging

from 1 for Not Significant to 5 for Highly
A. Factors that Determine Purchase Decision of Indian
Significant.Thereafter mean responses of consumers were
Consumers
recorded for all the statements and t test was conducted to
One of the primary objectives of the study is to find out the assess the relative significance of different factors in
important factors that determine purchase intention of the determining the consumers purchase decision.
consumers in India. Consumers were asked to respond
Table 2: Factors Determining the Purchase Decision

Factor Mean ±SD t value p value
Price 3.9435 0.9304 7.8792* <.0001
Quality 4.2507 0.8718 9.0618* <.0001
Design and Appearance 3.0108 0.9203 2.6083 0.0871
Features 3.8273 0.9662 7.4613* <.0001
Brand Name 3.6518 1.0132 5.8571* <.0001
Made in Label 3.5266 0.9662 3.8216* <.0001
Post-Sale Service 3.3741 0.7713 3.6279* <.0001
Advertisement 3.3491 0.9379 3.6088* <.0001
Advice of Social Groups 3.6304 0.7421 4.7810* <.0001
*significant at 5% level
Table 2 shows that consumers in India give highest but it is found less important as compared to brand
importance to quality while making their purchase decision name.Design and appearance are not found to besignificant
followed by price, features, brand name, advice of social factors behind the purchase decision of consumers.
groups. Made in label has also been found a significant
factor that determines the purchase decision of consumers
A. Preference between Indian and Foreign product with India therefore an attempt was also made to know the
comparable quality and price purchase preference of consumers between Indian and
foreign product if both are available at comparable quality
As the study suggests that quality followed by price are the
and price.Respondents were given choice to respond to any
primary determinants of consumers’ purchase decision in
of the three choices and the results are reported in table 3.
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Table 3: Preference between Indian and Foreign product with comparable quality and price
Statement Number of Respondents Percentage of Respondents
Will buy imported product made in developed 124 71.27
country
Can’t say 07 4.02
Will buy Made in India Product 43 24.71
Total 174 100
As given in table 3, only 24.71% respondents showed their B. Consumers’ Perception and Opinion towards Made in
willingness to buy made in India product rather than India Products:
foreign product, however, 71.27% respondents showed
In order to study the perception and opinion of Indian
preference for imported foreign product despite the
consumers regarding made in India products, a set of
comparable quality and price. This becomes evident that
statements was given to all the respondents and they were
rather than price and quality, there are other factors which
asked to respond on a five-point Likert scale with responses
hold back Indian consumers from buying Indian products.
ranging from 1 for Strongly Disagree to 5 for Strongly
Agree. The mean responses for all the statements along
with their t values are reported in table 4.
Table 4: Perception and Opinion towards Made in India Products
Statement Mean ±SD t value p value
Made in India Products are good in quality 4.6967 0.3187 9.8103 <.0001*
Made in India Products are available at comparable prices 4.3159 0.4026 7.4648 <.0001*
Made in India products are well designed 2.1832 1.8032 1.2173 0.0421
Made in India products are more durable than foreign products 3.2978 0.4907 1.0991 <.0001*
Made in India products are contemporary and stylish 2.0851 0.8194 4.9582 0.3059
After sale service of Indian Products is comparable to foreign products 2.8961 0.8526 2.7823 <.0001*
Made in India Products are well marketed 1.5387 1.0109 1.2032 0.0436
Made in India Products are well distributed 1.9043 0.9387 1.0651 0.0114
Most of the respondents in all categories strongly agreed to C. Consumers’ Opinion about likelihood of increasing
the statement that Made in India products are of good purchase preference for Indian products
quality and available at comparable prices. Mean response
Based on results in table 4, respondents were asked to
of the respondents is also found to be statistically
respond to three statements on five-point Likert scale
significant in this regard. However, most of the consumers
ranging from 1 for Extremely unlikely to 5 for Extremely
either strongly disagreed or disagreed with the statement
likely. Mean responses were then recorded and tested for
that Indian products are well designed, contemporary, well
significance. Results regarding mean responses of the
marketed and distributed. Consumers also seemed
respondents along with their t values are reported in table 5.
somewhat satisfied with after sale service of Indian
products that showed statistically significant t value.
Table 5: Consumers’ Opinion about likelihood of increasing purchase preference for Indian products
Statement Mean ±SD t value p value
Contemporary designing of Indian products will elevate purchase intention of Indian consumers 3.8361 0.9582 4.1877 <.0001*
Improved distribution of Indian products will improve their sale in India 4.3701 0.8703 7.0372 <.0001*
Sound marketing of Indian products will motivate Indian buyers to buy them rather than imported 4.9365 0.8491 9.1863 <.0001*
foreign products
As evident from the above table, sound marketing along relatively more competitive in terms of their marketing,
with improved distribution and contemporary designing can distribution and designing skills so as to give tougher
help Indian companies to elevate the consumers’ purchase competition to their foreign counterparts.
intention for Indian products. Indian companies need to be
comparable. Most of the respondents strongly agreed that
CONCLUSION AND RECOMMENDATION
made in India are good in quality, price competitive,
The findings reveal that despite the fact that quality and durable and having comparable after sale service. However,
price are the two most important factors that determine consumers didn’t seem satisfied with designing, marketing
purchase decision of Indian consumers, they are and distribution of Indian products and suggested that
predisposed to buy foreign products rather than Indian Indian companies can increase purchase preference for
products even if the quality and prices of both are Indian products among Indian consumers by improving
37 | P a g e
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marketing, distribution and designing of Indian products.
Therefore, Indian companies need to be relatively more
competitive in terms of their marketing, distribution and
designing skills so as to give tougher competition to their
foreign counterparts in the minds of Indian consumers as
well as Indian market.
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(2017),“Analysis of Impact of Country of Origin (COO) on
Consumers' Perception with context of Electronic Goods”,
Pacific Business Review International, Volume 9Issue 11, pp.
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2. Gera, Suchita (2014), “Consumer Attitude and Purchase
Behaviour towards Foreign brands, IJRFM, Volume 4 Issue 1,
pp. 74-87
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Origin Analysis across Black Sea; Studies on Azerbaijan,
Bulgaria, Georgia, Russia, and Turkey”, IBSU International
Refereed Multi-Disciplinary Scientific Journal, Issue 1 No.1,
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4. Bandyopadhyay, Soumava (2014), “Country-of-Origin
Perceptions, Consumer Ethnocentrism, and Product
Evaluations in the Indian Market”, International Journal of
Business and Social Science, Vol. 5No. 9,pp. 21-30
5. Vyas, Nirav R. and Vyas, Vijay H. (2015), “Consumer
Perception of Global Vs. Local Brands: the Indian Car
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6. Jian, WU and Guoqun, FU (2007), “The effects of brand origin
country and made-in country on consumers’ product
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A REVIEW ON DEVELOPMENT OF SMART CHATBOT USING NATURAL
LANGUAGE PROCESSING
*
Kandi Surendra Reddy **Mubashir Farooq ***Burle Naga Sree Rama Sunil
****
Tatineni Dheeraj Chowdary
*
Research Scholar, Lovely Professional University, Jalandhar.
**
Assistant Professor, Lovely Professional University, Jalandhar.
***
****
ABSTRACT
Chatbots have become increasingly popular in recent years, and many have been programmed to replace
existing chatbots. A chatbot is a program that allows you to communicate with a computer. An
application that collaborates with users and caters to their needs. The chatbot responds to the user's
questions and can even make recommendations, perform activities on a regular basis. Early chatbots
were too difficult to create, but newer chatbots are much easier to build thanks to development
frameworks and source code. It may also used to build a chatbot can profoundly understanding (NLP).
In comparison to traditional methods. In order to be efficient, chatbots and Deep Learning bots need a
large amount of data well-informed. The purpose of this document is to demonstrate how different types
and classifications of chatbots can be developed. The performance of bots is also explored in this paper.
This aids in the development of better bots.
Keywords:Chatbots, Natural Language Processing (NLP), Deep Learning.
I . INTRODUCTION The original chatbots were created solely for amusement.
To learn the entry sequence, the Deep Learning bot requires
People have become more popular in recent days. Chatbots
Neural Networks, which can be built in a variety of ways.
grew as people interacted with digital devices. Users can
Some boats, such as ELIZA[1], ALICE[2], only use input
converse with machines using chatbots. Chatbots are
text, whereas Amazon Alexa supports voice as input bots
computer programmes that can converse with each other.
like Siri, Google Assistant
Chatbot
Finite state Natural Language Deep Learning

Machines Processing (NLP)
Pattern Retrieval based Model Generative based Model

Matching
E.g.Snowbot Predefined Recurrent Neural

Responses Network (RNN)
E.g. ALICE E.g. Microsoft Tay
Fig.1: Flow chart of Chatbot

A. Natural Language Processing (NLP):It's a translation isn't the only use for NLP; it can also
division of artificial intelligence that enables be used for speech recognition. SHRDLU, which
computers and humans to communicate[3]. Text is based on a limited vocabulary, and ELIZA,
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which simulates communication by pattern are programmed to perform specific tasks, such as
matching and operates on a replacement placing an order or scheduling an event. A chat bot
methodology, are two common NLP systems can be a chit-chat bot or a job-based chat, and it is
developed in the early 1960s. programmed to be fun or to accomplish a task.
B. RecurrentNeuralNetwork(RNN):This expands B. Domain Based Chatbots: There are two types of
the general forwarding network[4], allowing it to domain-specific chatbots: Bots with open domains
handle more traffic, and it not only measures and bots with closed domains. Horizontal chatbots,
current input but also produces a result of previous also known as open domain bots, are designed to
results. RNNs also have a memory that can be used answer any query. These bots are adaptable and
to recover the input sequence. It has two layers: one pleasant to be around. Apple's Siri, Microsoft's
for input and one for output. It has a layer and Cortana, Amazon's Alexa, and Google Assistant are
secret layers, just like every other neural network[5] all part of this community. Closed-domain chatbots,
also known as vertical chatbots, are designed to
C. Long Short-Term Memory (LSTM): The greatest
serve a specific function, such as providing
disadvantage of RNN is that they can't retain
directions to a specific location.
feedback for long periods of time. By extending the
RNN and retaining long data sections, LSTM[6] can
solve this problem. III. ARCHITECTURAL MODELS OF CHATBOTS
II. CLASSIFICATION OFCHATBOTS A chatbot can take one of two forms: Machine learning
models can produce a user response from scratch or from a
In terms of the nature and details they're supposed to predefined response repository[8]. In theory, a chatbot may
provide, there are two forms of chatbots[7]. The be either generative or retrieval in nature.
following are the details.
1. Generative based models: These models can
A. Conversational Based chatbots:A chat bot can be a generate human-like conversations. To achieve a
chit-chat bot or a job-based chat and it is respectable dialogue standard, such bots need
programmed to be fun or to accomplish a task.Chit- millions of examples to be educated. Microsoft
Chat bots have no clear goals; instead, they focus on Tay[9] is a member of this party.
general communication, while task-oriented chatbots
2. Retrievalbasedmodels:These models are very easy to development of recovery-based models. They are easy
build and perform well. APIs are available for the to construct compared to generative models
Fig.3: Retrieval based model
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IV . EVOLUTION OFCHATBOTS 1. ELIZA: Eliza is a groundbreaking chat bot created
by MIT in 1966. It works by analysing trends and
Various chatbots for entertainment and mission
contrasting them. In order to follow the pattern for a
completion have been developed so far. Some of the
correct answer, it needs user input and script
most well-known chatbots are listed below.
searches.
Fig.4: Eliza chatbot.

2. ALICE: It was founded in 2009. Users can make their character (AIML) vocabulary[10] with detailed language
own chatbots. It makes use of an artificial intelligence characteristics (XML).
Fig.5: Alice chatbot

3. Jabberwocky: It's a chatbot for entertainment[11]. It mimics human conversation and does nothing else.
Fig.6: Jabberwocky chatbot
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V .OTHER POPULAR CHATBOTS  It is low-cost.
The above chatbots have become commonly recognized.  It is language agnostic
Colby released Parry in 1975. It's the first bot to pass
Turing. It is based on rules. In 2014, Julien Chaumont and  Turing Test: Alan Turing[15] created the Turing test
Clement Delangue developed a new chatbot, Neural in 1950 to see if a machine could display intellectual
convo[12]. There are also several goal-oriented chat bots human-like behaviour. If the tester is unable to
such as Medhat[13] facilitates and transparent medical distinguish between the human and the computer, As
diagnosis for both patients and physicians. a result of these responses, we can conclude that the
machine has passed the test of turing.
VI. METRICS USED FOR EVALUATING
CHATBOTS  Scalability: If a chatbot acknowledges a large user
no, it is said to be more scalable. A successful chat
A metric for assessing a market operation is a will work in any situation.
quantification measure [13]. A calculation that measures the
chatbot about the performance. Some methods help design  Interoperability: The freedom to share and use
an efficient chatbot. knowledge is the interoperability of a system. An
interoperable chatbot can help several channels and
 Bleu Score: The BLEU score[14] is a method for users can switch between channels easily.
comparing created text sequences to reference
sequences. A method that is used is the BLEU score.  Speed: The calculation of the chatbot response rate
Kishore Papineni proposed the BLEU score in 2002. plays a vital role in speed. Quality shouls be provide
It was developed solely for the purpose of translation correct answers quickly.
a mission The BLEU score has a number of benefits:
ELIZA PARRY JABBER WACKY ALICE
METRICS
Scalability Not scalable Not scalable Not scalable Not scalable
Turing test Not passed Passed Passed Passed
Interoperab-ility Low Low High High
Speed Low Low Average High
Table.1: Evaluation metrics of different chatbots.
VII. DATASETS pp7-10.
7. Eleni and Lefteris, An overview of Chatbot Tech of Artifical
In the architecture of chatbots, data plays a vital role.
Intelligennce Applications and Innovations, UK, May, 2020.
Question/Answer pairs of queries should be teach to the
chatbots. For the implenting of chatbots it contains number 8. K. Jwala, G.N.V.G Sirisha, G.V. Padma Raju, “International
Journal of Recent Technology and Engineering”, Volume-8,
of datasets available. There were two datatypes for the Issue-1S3, June, 2019.
chatbots: rdany-chat[16] and chatterbot-corpus-master[17].
9. K. Jwala, G.N.V.G Sirisha, G.V. Padma Raju, “International
VIII. CONCLUSION Journal of Recent Technology and Engineering”, Volume-8,
Issue-1S3, June, 2019.
This article show us to implement various methods of
10. Nivedita Bhirud, Subhash Tataale, Sayali Randive, Shubham
architectural chatbots. In addition to this, some different Nahar, A Literature Review On Chatbots, International journal
chatbots are included in a above table. The survey shows of scientific & technology research,Volume 8, Issue 07, July,
that the architecture of chatbots will carry the internet for 2019.
a upcoming years. Implementing a newly chatbots will 11. Jianfeng Wang, Linwu Gu and Milam Aiken, A Comparison of
leads to the resolving the client’s queries. Three Conversational Agents, Asian Journal of Science and
Technology Vol. 10, Issue, 09, pp.10051-10055, September,
REFERENCES 2019
1. Joseph Weizenbaum, O’Reilly, Chapter 12, Chatbot, Aliza, 12. Vinyals & Le, blog-acolyer neural conversation model, June
Volume 10, No 8. 2016.
2. Richard S. Wallace, The Anatomy of Alice, January, 2019. 13. Medhat, Ains Sams Enginnering Journal, 2021.
3. George Seif, “How to speed up your K-means clustering by 14. Ehud Reiter, A Structure review of the validity of Bleu,
upto 10x over Scikit-learn”, Towards Data Science, Jan 31, Volume 44, Issue 3, Sep, 2019.
2020.
15. Alan Turing, Computing Machinery and Intelligence, June,
4. Neural Networks, “International conference of Advances in 2012.
Engineering and Technology Research, IEEE, India, Jan 19,
2015. 16. Ebestam, Farrokh- Complex, Intelligent and software intensive
systems, pp-534 January 2020.
5. LSTM, “International conference of Advances in Engineering
and Technology Research, IEEE, India, Jan 19, 2015. 17. Peters, Florian-University of Liège - Faculty of Applied
Sciences, Design and implementation of a chatbot in the
6. Chatbot pros and cons, Review of Chatbot techniques, context of customer support, June,2019.
International Journal of computer applications, August, 2018,
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FEATURE BLENDING FOR AUGMENTED CLASSIFICATION ACCURACY
WITH RESTRICTED TRAINING IMAGE DATA
* ** ***
Khushbu Kumari Rik Das Pankaj Kumar Manjhi
*
Assistant Professor, Department of Computer Science,Yogoda Satsanga Mahavidyalaya, Ranchi,
Jharkhand
**
Assistant Professor,Programme of Information Technology, Xavier Institute of Social Service,
Ranchi, Jharkhand
***
Assistant Professor, Department of Mathematics,Vinoba Bhave University, Hazaribag
Jharkhand.
ABSTRACT
Enhanced familiarity with effortlessly available image capturing devices has resulted a paradigm shift in
behavior of the mass. Content base image identification has gradually reduced the popularity of text
keywords as generic means of searching from archived databases. In this work, we have statistically
examined the affinity of users towards accuracy and timeliness of searching with content-based image
data. The outcome of the experiment has encouraged exploring techniques to enhance accuracy of
classification in absence of enough training data. In recent times, popularity of pre-trained
convolutional neural network (CNNs) has presented considerable improvements in content-based image
classification. But deep neural networks require huge amount of training data for feature generalization
which is not available all the time and are also resource intensive. To address such scenario, the paper
has examined and proposed two different feature extraction techniques which include a handcrafted
technique and a pre-trained CNN based feature extraction. A small dataset is purposefully considered so
that training data can be restricted. Further the features are fused to investigate probable improvements
in feature generalization resulting in enhanced classification accuracies with limited training data.
KEYWORDS: Binarization, Content Based Image Classification, Feature Extraction, Feature Fusion,
Convolution Neural Network
1. INTRODUCTION
Conventional popularity oftext-based communicationis with enhanced precision even with lesser amount of
gradually and steadily replaced by content-basedimage data training data.
due to easy availability and expressiveness [1][2].
This work has statistically examined user satisfaction for
Abundance of image data has provided richer context to
enhanced classification accuracy using content-based image
analysehidden patterns in diversified scenarios [3]. One of
data. The findings have motivated to investigate means of
the reasons behind popularity of image data content is to
enhancing classification accuraciesusing feature
detect the optimized means for offering prompt services to
generalization technique.Experimentation for the aforesaid
real time queries [4]. Familiarity of smart phones and high-
purpose is carried out by examining with two different
resolution image capturing devices has generated an
feature vector extraction techniques, namely, handcrafted
incessant source of images[5][6]. This has empowered the
technique and pretrained convolutional neural network
users to search the images oftheir choice based on image
(CNN) based technique. Further, fusion of extracted features
content instead text keywords [7]. In recent times, world
using boththe aforesaid methodologies is carried out to
has witnessed the effect of pandemic where X-Ray images
explore the possibilities of augmented classification results.
and Computed Tomography (CT) images has played a vital
role by designing computer aided diagnosis systems for II. LITERATURE SURVEY
timely identification of the disease [8][9]. However, the
rate of identification is not satisfactory even with deep Keyword searching is taken up as a popular method to trace
the object of interest [11]. The technique tends to create
learning techniques [10]. The reason behind is lack of
numerous unessential search outcomes due to limited
training data. Thus, for any unforeseen scenario, content-
vocabulary of the user. Recent approaches of image-based
based image classification may fall short of expectations
searching have largely been influenced by content of the
due to unavailability of enough training data which results
in enhanced misclassification. The objective of this work is query image instead of its text label as a keyword [12][13]
to propose a system which can identify image categories [14]. The concept of identifying image data has started in
early eighties[15]. Traditional feature extraction methods
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have generated hefty feature vector sizes [16][17][18]. This extract feature vectors from image data which has revealed
has drastically increased the time for feature comparison high precision for classification task [27]. Nevertheless,
and added up to space complexity for storage. Various low- pre-trained CNNs are only useful when they have enough
level characteristics like shape, color, size etc. are exploited training data for feature generalization during transfer
to extract hand crafted features from the image data [19]. learning.
Some of the prominent techniques are designed by means
The paper has identified this significant gap of reduced
of image binarization [20]. The process of binarzation
classification accuracy with restricted training image data
involves threshold selection in three different varieties,
and has attempted to address the same with feature
namely, global, local and mean threshold selection [21].
generalization approach based on feature fusion. The results
The technique of global threshold selection is developed by
are encouraging and has shown improvement in
Otsu and assorted local threshold selection techniques are
classification accuracy over individual techniques.
developed by Niblack, Sauvola etc. [22]. Grey Level Co-
occurrence Matrix (GLCM) and vector quantization are III. MATERIALS AND METHODS
significant handcrafted techniques for feature extraction
The in this work have inspected the robustness of feature
using image textures [23]. Popular handcrafted techniques
extracted using authors handcrafted technique and
like histogram of oriented gradients HOG, SIFT, SURF and
pretrained CNN based technique. Further, the features are
so on have resulted in robust descriptor definition [24].
However, all these feature extraction techniques are based fused to explore feature generalization resulting in higher
on a single property to extract features which has turned out classification accuracy. The experimentation is necessitated
by the survey of positive user responses towards
to be a bottleneck for feature generalization in case of
enhancement of classification accuracy while they search
limited training data. Convolutional Neural Networks
contents by image as in Table 1.
(CNNs) have readily addressed this limitation while
extracting content-based image features [25]. CNN Analyses of Table 1 have shown significant association
architecture performs complex computations for descriptor between user satisfaction and difficulty in identifying
definition by considering various properties of image data correct searching keyword. The value of the parameters of
[26]. Nevertheless, training a CNN from scratch is not the test (Likelihood Ratio=275.817; Phi=1.28; Cramer's
always feasible due to high computational cost. Large V=0.905 and p<0.01) signifies dissatisfied users with
number of varieties of pre-trained CNNs is available to increased difficulty in framing query for searching.
CHI-SQUARE TEST
Row variable User satisfaction for factors affectingclassification
Column variables Likelihood Ratio Sig. (2-sided) Phi Cramer's V
Difficulty in identifying correct searching
275.817 0.0001 1.28 0.905
keyword
Dissimilar outcome of search 54.004 0.0001 0.5 0.363
Inaccuracy & inefficacy 91.656 0.0001 0.674 0.477
Table1. Chi-Square Test of User level satisfaction
Similarly, dissimilar outcome with posted query (Likelihood different procedures of descriptor definition to investigate
Ratio=54.004; Phi=0.5; Cramer's V= 0.363 and p<0.01) and improvement in classification results with feature
inaccuracy & inefficacy of search results (Likelihood generalization.
Ratio=91.656; Phi=0.674; Cramer's V= 0.674 and p<0.01)
We have used Wang dataset as a testbed which has 1000
are having huge relationshipwith user dissatisfaction for
images equally spread over 10 different categories. A
classification process. A sample size of 185 is considered
sample collage is given in Figure1 [18].
for the survey.
Content based image descriptors eradicate the necessity of
text query formation. This work has presented three
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Figure. 1 Sample Collage of Wang Dataset
III A. HANDCRAFTED FEATURE EXTRACTION = + *

USING IMAGE BINARIZATION
where,.
Image binarization using local threshold selection is useful
Here, the value of φ is considered as 0.6. The nature of
to identify the region of interest for feature extraction.
binarization is subject to the size of the sliding window and
Niblack'slocal threshold selectionis used to extract feature
the estimation of φ. The grey values for a given window are
descriptors from binarized images in the dataset. Color
now compared to the local threshold value θ(p,q)of the
component wise local threshold determination of an image
subsequent window. The comparison results in formation
is performed by determining a pre-fixed sliding window of
of two different clusters comprising of values greater than
rectangular shape moving all over the gray values
or equal to the value of the threshold and lesser than the
subsequent color component. The threshold of an image
value of the threshold. Furthermore, two sets of average
θ(p,q) for a window size (25x25) is calculated locally for
valuesare calculated from pixels having higher or equal
the portion covered by the sliding window at any instance
intensity compared to local threshold and lower intensity
and is given by the summation of mean of gray values
values compared to local thresholdas in equations 2 and 3.
denoted with μ(p,q)and standard deviation of the gray
The values thus computed resulted in designing the higher
values denoted by δ(p,q) as in equation 1.
and lower intensity binarized feature descriptor for images.
.
1 p q
X  *   BitMap x ( p , q ) * X ( p , q ) (2)
hi _ int p q m1 n1
  BitMap x ( p , q )
m1 n1
1 p q
X  *   (1  BitMap x ( p , q )) * X ( p , q ) (3)
lo _ int p q m1 n 1
p * q    Bitmap x ( p , q )
m1 n 1
A demonstration of feature vector extraction steps with binarization technique is illustrated in Figure 2.
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Original Image
Binarization of red, green & blue
component
Red Green Blue

component component component
Binarization of Components
Binarization Binarization of Binarization

of red Green of Blue
component component component
Extracting feature
vector
Figure 2: Feature Vector Extraction Steps with Binarization
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III B. FEATURE EXTRACTION USING PRE- sample diagram of a fully connected convolutional neural
TRAINED CONVOLUTIONAL NEURAL NETWORK network (CNN) is shown in Figure 3. The training is
(CNN) carried out on ILSVRC12 ImageNet dataset [28].
A pretrained CNN architecture named MobileNetV2 is
used for for feature extraction from the database images. A
Figure 3:Feature Vector Extraction Steps with Binarization
III C. FEATURE FUSION ARCHITECTURE extracted using handcrafted technique and with pretrained
CNN as in Figure 4.
Finally, we have developed a fusion based descriptor by
horizontally concatenating the normalized feature vectors The process of normalization is based on feature scaling
technique as in equation 4.
(4)
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Query Image Dataset Image
Feature Extraction Feature Extraction

with Binarization with MobileNet_V2
Feature Scaling
Fusion No
(Yes/No)
Classify Features
Yes (KNN,SVM,RF)
Early Fusion of Features with

Horizontal Concatenation
Classification of Fused Features

(KNN,SVM,RF)
Figure 4. Classification Architecture for individual / fused features
The classification results are computed by considering 10- measurement, namely, precision and recall as in equations
fold cross validation to avoid overfitting. Two different 5 and 6.
metrics are considered for classification performance
TP
Pr ecision  (5)
TP  FP
where, TP = True Positive
FP = False Positive
TP
TPRate / Re call  (6)
TP  FN
IV. RESULTS AND DISCUSSION Figure 5 is showing the comparison of precision and recall
values for two different categories of descriptors. Results in
The assessment of performance is completed in 10 trials by
Figure 5 shows that feature extraction using pre-trained
the classifiers. Two different categories of classifiers,
CNN is having significant increase in classification results
namely eager learner (SVM and Random Forest) and lazy
compared to the handcrafted technique. But, due to limited
learner (kNN) have performed the evaluation process.
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training images, the classification results are not very a significant rise in precision and recall values are observed
impressive even using CNN as feature extractor. However, with feature fusion.
Performace Comparison with Precision and Recall for Classification
using diverse feature vectors
1
0.9
0.8
0.7
Precision/Recall
0.6
0.5
0.4
0.3
0.2
0.1
0
Image pretrain Feature Image pretrain Feature Image pretrain Feature
binarizat ed CNN Fusion binarizat ed CNN Fusion binarizat ed CNN Fusion
ion ion ion
KNN SVM RF
Precision 0.768 0.861 0.864 0.802 0.955 0.969 0.804 0.957 0.966
Recall 0.767 0.718 0.799 0.799 0.955 0.969 0.804 0.957 0.966
Figure 4: Comparison of Classification Performance forvarious techniques
The classification results with feature fusion have with respect to conventional approaches.It has emphasized
outclassed the results evaluated using individual features. the fact that the descriptor definitiontechniques must
This has clearly established the efficacy of feature fusion to consider multiple facets of the image characteristics.The
leverage feature generalization for enhanced classification theory is established by achieving augmented accuracy
results in case of limited training data. Process of feature with fusion based descriptors prepared with combination of
fusion has considered multiple properties of image content pretrained CNN based features and handcrafted features.
to create a generalized descriptor resulting in higher Proposition of fusion based approach has also proved
precision. This has indicated the importance of considering beneficial to ensurefeature generalization with restricted
diverse image characteristics during content-based training imagesby designing robust features with
descriptor definition from image data. Hence, the feature combination of assorted varieties of feature vectors. The
fusion technique can well be implemented to enhance user approach discussed in this work may be extended towards
satisfaction for searching using content based image new direction for innovation and value addition in
classification. designing content-based image classification solutions in
diverse domain.
V. CONCLUSION
The paper has successfully proposed feature fusion
technique as a method to achieve feature generalization
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AN EXPLORATORY STUDY ON THE DIMENSIONS OF WOMEN’S
ECONOMIC EMPOWERMENT
* **
Swati Rohatgi Navneet Gera
*
Research Scholar, Bharati Vidyapeeth (Deemed to be University), Pune
**
Associate Professor, Bharati Vidyapeeth Institute of Management & Research, New Delhi
ABSTRACT
Globally, women’s empowerment has gained momentum to reduce gender inequality in order to meet the
5th Sustainable Development Goal. Despite numerous studies on women’s economic empowerment, a
consensual understanding of the concept is missing.Hence, the purpose of this study is to review
published research on women’s economic empowerment (WEE).This exploratory study has explored
research articles and reports from reliable sources to form a thematic review using version 12 of
NVivo.The study, identified critical themes from the reviewed literature using NVivo 12. Unexplored
areas such as measurement issues in WEE, a debatable topic, have been probed.The results indicate
attributes of empowerment frequently cited in the literature. The paper also recommends future research
directions to examine antecedents of WEE in the Indian context.
Keywords:Women, Economic empowerment, Development, Measurement
1. INTRODUCTION relationship between gender inequality and all aspects of

sustainable development(Esquivel and Sweetman, 2016).
The United Nations 2030 Agenda for Sustainable
Development provides a transformative frameworkfor the In 2020, the Global Gender Gap Index(GGGI) ranked India
advancement of the three dimensions of sustainable at 112th position out of a total of 153 countries(World
development i.e., economic, social and environmental. It Economic Forum, 2019).In the Economic Participation and
envisages an inclusive and sustainable economic growth Opportunity sub index, India scored a dismissal rank of
model for all(United Nations, 2015). Through its 17 149. Within the labor market, only 22% of women are
sustainable development goals(SDGs), the transformative engaged actively as compared with 82% of men.This is one
agenda seeks for greater equality and prosperity for the of the lowest participation rates in the world (145 th).
disadvantaged groups. Though women and girls play a Furthermore, female earnings have been reported to be one-
pivotal role in all the Goals, SDG 5 aims exclusively on fifth of the male income, also one of the world‟s lowest.
achieving gender equality and the empowerment of girls Table 1 gives India‟sindicator-wise rankings of GGGI‟s
and women. Its foundation is laid on the strength of the economic participation and opportunity subindex.
Table 1: Indicator-wise India’s GGGI Ranking

Gender-gap Indicator Participation (%) Rank
Women‟s labor force participation rate 22 145

Female estimated earned income - 144
Wage equality for similar work - 117
Leadership roles 14 136
Professional and technical workers 30 132
Parliament representation 14.4 122
Source: World Economic Forum’s Gender Gap Index (2020)
These rankings summarize the precarious condition of A thorough and comprehensive search of the research topic
women in the Indian society. It underlines thefact that terms was carried out on Google Trends to measure their
economic gender disparity runs deeply in India. Hence interest and popularity across geographical regions and
there is a need to explore and understand the concept of time period. Figure-1 depicts a consistent and increasing
empowerment through its various dimensions and contexts interest of the search queries „economic empowerment‟,
to assess why women are significantly disadvantaged „womens development‟, „financial freedom‟ and „social
compared to men. empowerment‟ from the Google Trends datasets. This also
validates the significance of the topic taken up in the study.
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Figure 1: Google trend line for terms related to women‟s economic empowerment
Source: Google Trends as accessed on 11/03/2021

This paper aims to contribute to a more complete Both, Amartya Sen and Naila Kabeer have laid the
understanding of women‟s economic empowerment foundationfor researchers to further explore the functional
through a literature review. Taking this into consideration, and instrumental aspects of women‟s empowerment.
this study attempts to answer the following questions:
WOMEN’S ECONOMIC EMPOWERMENT AND
RQ1. How literature review can help form a thematic view IT’S DIMENSIONS
of women‟s economic empowerment?
Many researchers have correlated women‟s empowerment
RQ2. How NVivocan help explore literature review using with their economic perspectives(ICRW, 2011; Siddik,
Word Tree and Word Cloud analysis? 2017). Several studies have established the indicators of
women‟s economic empowerment. First, the empowerment
The paper is divided into four sections. First section is a
process can be broken down into three inter-related
brief background of women empowerment followed by the
componentsnamelyresources, agency and
literature review in second section. Section three covers
achievements(Kabeer, 1999). Resources are defined as the
methodology whereas results are covered in section four
enabling factors comprising of material, human and social
which are exploratory in nature. Section five covers
resources. Agency is defined as the essence of
conclusion. And finally, limitations of the study and future
empowerment puts women themselves responsible for
research directions are discussed in section six.
improving their positions. And finally achievements are the
2. LITERATURE REVIEW outcomes of the empowerment process.Second,along
withthe previously mentioned dimensions, norms and
Literature has been reviewed to provide a theoretical institutions also contribute towards empowerment(ICRW,
understanding of the concepts of women‟s economic 2011).They are social and organisational systems that
empowerment and its measurement. define and govern behavior. Third, education is a key
THE CONCEPT OF WOMEN’S EMPOWERMENT ingredient for women to lead autonomous lives and have
freedom to act(Chakrabarti and Biswas, 2012; Ghosh,
Researchers as well as practitioners from different fields Chakravarti and Mansi, 2015). Fourth, financial well-being
have made significant contributions to the understanding of also contributes towards economic empowerment(Deka,
the dynamic idea of empowerment over the 2015; Haque and Zulfiqar, 2016). In addition, effective
years.Renowned economist Amartya Sen‟s work helped financial inclusionstrategies also help improve economic
empowerment formally enter the domain of development empowerment outcomes(Holloway, Niazi and Rouse,
economics. He stressed on the expansion of people‟s 2017). Many more complex domains have been worked
choice-their freedom(Sen, 1999). Recently, empowerment upon by researchers to understand the multidimensionality
has entered the field of behavioral economics-which is an of economic empowerment.
amalgamation of psychology and microeconomic concepts
of human behavior. Nobel laureates Abhijit Banerjee and MEASURING WOMEN’S ECONOMIC
Esther Duflo have conducted severalobservations and EMPOWERMENT
experiments to link the behavior of poor people with their Empowerment is difficult to measure as many researchers
empowerment dimensions(Banerjee and Duflo, 2012). have described it as a process rather than a state.Some
Women‟s empowerment not only promotes inclusive studies have used indirect measures comprising of
growth but has been universally accepted to having social, observable characteristics like earnings, education, labor
political moral and economic benefits(ICRW, 2011). It has force participation rates and micro credit use as proxy of
been defined as a “process of change” and entails the shift empowerment(Gupta and Yesudian, 2006; Garikipati,
from disempowerment to empowerment(Kabeer, 1999). 2012; Ghosh, Chakravarti and Mansi, 2015). However,
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these proxy measures have been widely criticised on the 3. METHODOLOGY
basis that they are context dependent and do not capture
and separate all empowerment dimensions(Jejeebhoy and The review process was divided into three stages: an initial
Sathar, 2001; Agarwala and Lynch, 2006). On the other literature quest, a narrowing of the field of study, and
hand, direct measures comprising of decision making finally, a review. A comprehensive search of web-based
power, access and control over resources and choice have databases was conducted to identify as many relevant
helped tackle the shortcomings of the indirect-measure academic and grey literature, as possible. The author
approach(Goetz and Gupta, 1996; Agarwala and Lynch, assessed databases, such as ProQuest, ResearchGate and
2006). At times, only simple measures like women‟s Google Scholar to search for suitable research papers in
productivity and earnings are taken as proxies to measure English language only. A myriad of terminology like,
the intricate concept of empowerment(Buvinic and Furst- “women‟s empowerment”, “women‟s decision-making”,
Nichols, 2014). Irrespective of the proxy measures used, “gender empowerment”, “gender equality” etc., were
women‟s economic empowerment chiefly focusses on two applied on the search engines as literature is inconsistent
areas namely, women‟s labor market outcomes and their and vague on the concept of empowerment. Search was
participation in household economic decision-making. customised to find published papers between 2008 and
2020 only. An exception was made for Kabeer (1999)due
WEE has been commonly measured through standardised its high citation count of 4351. In total, full-text of 29
indices.The most prominent is the Gender Development papers was thoroughly read and only 12 papers(Table 2)
Index (GDI) and the Gender Empowerment Measure were finally chosen for review based on the above
(GEM) developed by the United Nations Development mentioned criteria.Like with any other primary research, an
Programme (UNDP).The GDI analyses changes in integrative review must also comply with standards of
women‟s economic situation by measuring the access, methodological rigour(Cooper, 1998). The approach used
participation and outcome of their formal economic to evaluate and interpret the related components closely
activities. The GEM measures women‟s economic and resembles current practices.
political decision-making. Another indicatordeveloped by
the World Economic Forum (WEF) is the Global Gender The tools used for analysis were tailored to collect
Gap Index(GGG), which focuses on outcome rather than on knowledge required to address the research questions.After
inputs. reading the papers several times, they were imported into
NVivo Version 12 for a thematic analysis in the form of
Though literature suggests both qualitative and quantitative Word Tree, Word Cloud and Word Frequency.We followed
approaches to measuring women‟s economic numerous data-cleaning steps, such as elimination of
empowerment, many studies adopted a mixed-method stopwords as well as stemming. Similar to stop words, it's
approach to effectively evaluate change and critical to remove text features that don't add value and
outcomes(Pereznieto and Taylor, 2014). Theoretical obstruct the research method. Word cloud has been used to
literature review found that there was a paucity of studies in visualise key words voiced out by various authors through
WEE in context to India. select review papers for thematic view.
Table 2: List of 12 studies selected for the final review

S.No. Study Journal Description
1. Pieters & Klasen World development, Purpose: To discuss learnings from intervention programmes on microfinance,
(2020) business training, etc. aimed at increasing women‟s employment and earnings.
Context: Global
2. Laszlo et al. World development, Purpose: To propose a new framework to measure intra-household decision-
(2020) making. Context: Global.
3. Hendriks (2019) Development in Practice Purpose: To establish causality between financial inclusion and women‟s
economic empowerment. Context: Global
4. Kumari & International Journal of Scientific & Purpose: Toexamine the mediating role of financial inclusion on financial
Ferdous Azam, Technology Research literacy and women‟s economic empowerment. Context: Sri Lanka
2019)
5. Fox & Romero Policy Research Working Paper, Purpose: Aims to develop a more domain specific measure of women‟s
(2017) The World Bank economic empowerment. Context: Global
6. Haque & International Journal of Business Purpose: To explore the relationship between financial literacy, financial
Zulfiqar (2016) and Social Science behavior, financial well-being and women's economic empowerment.Context:
Pakistan
7. Buvinic & The World Bank Research Observer Purpose: Evaluate intervention initiatives aimed at women's economic
Furst-Nichols empowerment.Context: Global
(2014)
8. Pereznieto & Gender & Development Purpose: To review development interventions aimed at promoting of women‟s
Taylor (2014) economic empowerment. Context: Global
9. Postmus et al.( Journal of Family and Economic Purpose: To determine if there is a connection between financial literacy and
2013) Issues women's economic empowerment among abused women.Context: USA
10. Kabeer (2012) International Development Research Purpose: To establish a causality between gender equality and economic growth.
Centre Context: Global
11. Kapitsa (2008) Division for the Advancement of Purpose: To review the different measurement indices of women‟s economic
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Women empowerment. Context: Global
12. Kabeer (1999) Development and change Purpose: To analyse the methodologies used to measure women‟s economic
empowerment. Context: Global
4. FINDINGS
empowerment literature. Table 3 shows the identified
The NVivo analysis of the selected papers helped identify words that represent the topic. Women‟s economic
and validate the key terms frequented in the women‟s empowerment is frequented equated with development and
measurement.
Table 3: Word Frequency Analysis

Word Length Count Weighted Percentage Similar Words
womens 6 902 2.94 women, women‟s economic, womens
empowerment 11 398 1.30 empowerment, empowerment‟
economic 8 393 1.28 economic, economically, economics
development 11 265 0.86 develop, developed, developing, development, developments, develops
measuring 9 253 0.82 measurability, measurable, measure, measured, measurement,
measurements, measures, measuring
Next, a word cloud analysis was conducted on the selected participation, outcomes, income and research were the key
12 research papers. Figure 2 helps visualise the issues identified.
differentdimensions of the main theme. Power,
Figure 2: Word Cloud of the Review Papers
Further, the selected papers were also analysed for a development, training, decisions, measuring, household,
hierarchy chart as shown in Figure 3. Next to the already savings etc. These themes help understand the complexity
identified heavy themes of women, empowerment and of the main theme.
economic are the smaller boxes represented by
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Figure 3: Tree Map of the Themes
Overall, women‟s economic empowerment can be explored economic empowerment.Also future research can focus on
from a number of directions. It is an intricate web of more quantitative approach to understand the
innumerable sub-themes which can be explored in different multidimensionality of WEE. Further, studies related to
contexts. antecedents of women‟ empowerment from rural as well as
urban sector could be an interesting scope for further
5. CONCLUSIONS studies.
The review has attempted to analyse the selected studies to REFERENCES
draw conclusions on the thematic view of WEE. As results
1. Agarwala, R. and Lynch, S. M. (2006), "Refining the
have indicated, empowerment has spill-over effects in other Measurement of Women‟s Autonomy: An International
domains as well and hence cannot be defined in purely Application of a Multi-dimensional Construct", Social Forces,
economic terms.Women's active participation in social, Vol. 84 No. 4, pp. 2077–2098.
economic, political activities helps them gain respect and 2. Banerjee, A. and Duflo, E. (2012), "Poor Economics: A
trust, contributes to positive changes in society's Radical Rethinking of the Way to Fight Global Poverty",
understanding and mind-set, and offers policymakers Public Affairs.
guidance on how to develop women-related initiatives, 3. Buvinic, M. and Furst-Nichols, R. (2014), "Promoting
policies, and schemes as required.While conducting this Women‟s Economic Empowerment: What Works?", The
review, the researcher observed that there is a lack of good World Bank Research Observer, Vol. 31 No.1, pp. 59–101.
quality research literature on WEE in the Indian context. 4. Chakrabarti, S. and Biswas, C. S. (2012), "An Exploratory
Most studies were found to have been conducted in the analysis of women‟s empowerment in India: A Structural
African region, Bangladesh and Sri Lanka. Also, most Equation Modelling Approach", Journal of Development
Studies, Vol. 48 No. 1, pp. 164–180.
studies were found to be qualitative in nature. Though
qualitative analysis is vital to understand the process of 5. Cooper, H. M. (1998),"Synthesizing Research : A Guide for
Literature Reviews", Sage.
change, mixed-method evaluations would provide a more
holistic understanding of the nature and changes in 6. Deka, P. P. (2015), "Financial literacy and financial inclusion
economic status. for women empowerment: A study", International Journal of
Applied Research, Vol. 1 No. 9, pp. 145–148.
6. LIMITATIONS AND FUTURE RESEARCH 7. Esquivel, V. and Sweetman, C. (2016), "Gender and the
SCOPE Sustainable Development Goals", Gender and Development,
Vol. 24 No. 1, pp. 1–8.
The present study has a few limitations which opens up 8. Fox, L. and Romero, C. (2017), "In the Mind, the Household,
avenues for further research. Present study is more or the Market? Concepts and Measurement of Women‟s
focussed towards the economic aspect of empowerment. Economic Empowerment", World Bank Group -Policy
However, further analysis can be conducted on the different Research Working Paper 8079, (May), pp. 1–19.
empowerment dimensions and their relationship with 9. Garikipati, S. (2012), "Microcredit and Women‟s
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Empowerment: Through the Lens of Time-Use Data from 26. Sen, A. (1999), "Development as Freedom", Oxford
Rural India", Development and Change, Vol. 43 No. 3, pp. Paperbacks., pp. 3–11.
719–750.
27. Siddik, M. N. A. (2017), "Does Financial Inclusion Promote
10. Ghosh, R., Chakravarti, P. and Mansi, K. (2015), "Women‟s Women Empowerment? Evidence from Bangladesh", Applied
empowerment and education: Panchayats and women‟s Self- Economics and Finance, Vol. 4 No. 4, p. 169.
help Groups in India", Policy Futures in Education, Vol. 13
No. 3, pp. 294–314. 28. United Nations (2015), "Transforming Our World: The 2030
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programs in Bangladesh", World Development, Vol. 24 No. 1, 2020: Insight Report". Available at:
pp. 45–63. http://www3.weforum.org/docs/WEF_GGGR_2020.pdf.
12. Gupta, K. and Yesudian, P. P. (2006), "Evidence of women‟s

empowerment in India: A study of socio-spatial disparities",
GeoJournal, Vol. 65 No.4, pp. 365–380.
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Empowerment through Financial Literacy , Financial Attitude
and Financial Wellbeing", International Journal of Business
and Social Science, Vol. 7 No. 3, pp. 78–88.
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women‟s economic empowerment", Development in Practice.
Taylor & Francis, Vol. 29 No. 8, pp. 1029–1038.
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Economic Empowerment Through Financial Inclusion. A
Review of Existing Evidence and Remaining Knowledge
Gaps", Innovations for Poverty Action. Wagington, DC.
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economic empowerment: definition, framework and
indicators", International Centre for Research on Women.
Washington, DC.
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in India and Pakistan: the influence of religion and region",
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women‟s economic empowerment: A study among rural poor
women in Sri Lanka", International Journal of Scientific and
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SCHOOL EXPERIENCE PROGRAMME: PATHWAY FOR PROFESSIONAL
DEVELOPMENT OF INTERNS
*
Aarti Devi
*
Research Scholar at BPSMV Khanpur Kalan Sonipat Haryana
ABSTRACT
If you want to be a teacher School Experience Programme (SEP) can help strengthen your
professional skills and more experiences increase your chance to be a professional. Teacher
Professional Development (PD) has been in high demand during the last decade. This paper is an
attempt for highlighting the importance of SEP for PD of interns (future teachers) as there is a strong
need for teacher professional development. In this paper the researcher has noticed the seamless
connection between SEP and PD as an interncontinues his/her school experience programme, the
professional development acquired.
Keywords: School Experience Programme, Professional Development, Interns
INTRODUCTION deal with every sphere of the education system. It helps
pre-service teachers (interns) to get an opportunity to
Education is a continuous and technical process imparting
delineate 'teaching options' in a favorable supportive
knowledge, developing skills, and necessary experiences to
environment and also build confidence and self-belief.
create a human force for the development of modern
society. If a country wants to maintain quality education it The Aim and Objectives of the School Experience
must possess a team of qualified teachers. For quality Programme
teachers, a teacher training programme must contain a
School Experience Programme is designed to:
strong discipline of academic rigidity and maintain
challenging intellectual experiences for the production of Provide multi-dimensional opportunities to students for
interns. A teacher can well perform his/her multifarious development and update their workplace skills.
tasks and duties only if he/she is updated for knowledge
I. Offer opportunities to explore the possibilities of a
professionally regularly and an intern learns this through
SEP. Sadia (2020) depicts the impact of the internship ‘future orientation’ program.
programme on the professional and personal growth and II. Foster a good association between schools,
skills of the business students of Pakistan. Rebica, an intern students, and university programs.
at Urnis College in Biochemistry and Molecular Biology
shared her experience that she gets opportunities to learn III. Provide an opportunity for the students to analyze
practical skills in the laboratory during the internship. their Strength, Weakness, Opportunities, and
Threat (SWOT).
SCHOOL EXPERIENCE PROGRAMME
Professional Development
An Internship which is also known as School Experience
Programme(SEP), a formal school designed to cater to the Professional Development very often refers to supporting
needs of students to further study and gain experience in people in the workplace to guide and understand more
professional career interests. It is one of the points of about a variable, the environment of work, the job they
inflection of the teacher's professional career. It is the time accomplished, and how it can be done better. In the
graph when the intern molds himself/herself to equip with educational profession, a student always expects to be
good knowledge covering all aspects of the training taught by an experienced, knowledgeable, skilled, expert in
program. The basic role of the intern is to take up his/her field of specialization, kind and sympathetic
responsibility, active participation in the student teaching teacher.
tasks. During the internship programme, the interns get Tagore (creative unity 1922, p.203) has rightly stressed that
actively involved in extensive/ direct experimentation in a a "good teacher should function like a 'burning lamp',
school under the supervision of the trained staff of teachers which burns itself and enlighten others". In the present-day
in college and the sponsoring school (an institution in world, such type of image can be gainfully managed by a
which intern go under their practical training) to learn the teacher when he is a true professional and keeps in mind
various dimensions as the profession of teaching and to the teaching professional ethics throughout the career.
acquire good competencies required for initiation of the
teaching profession as a career. The programme is
particularly field-based for the intern to get experience in
the real problem field of specialization that a practitioner to
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Stages of Professional Development 2010, A review committee established by NCTE
recommended an internship (SEP) model for adoption in
The stages of Professional Development are listed below:
respect of teacher education a short theoretical orientation
I. First stage:Knowledge gain program followed by a 3 to 5 year guided having taught in
a school under the guidance of mentor teachers, greater
II. Second stage:Screening models attention on school internship and reflective practice with
III. Third stage:Reflection on practice perspectives on the individual learner and her context,
contemporary society, fundamental concepts of different
IV. Fourth stage:Shifting Practice components of education and curricular and available
V. Fifth stage:Gaining & Sharing experience pedagogic alternatives that lead to professional
development.
Seamless Connection between School Experience
Programme& Professional Development School Experience Programme: Pathway to
Professional Development
Professional Development is incomplete without the
practical experience gained and the same is expected from SEP is a pre-service training in teacher education
Teacher Education. The practiced experience is one of the programme with five objectives that are inter-linked with
compulsory elements of all internship programme for the the five stages of professional development. In this section,
development of skills and professional competence for the researcher has tried to present a brief overview showing
producing good teachers. The professional development the connection through discussion on how SEP promotes
course curriculum coupled with the input of theory and PD.
practice is known by School Experience Programme. In
Objective of SEP Stage of Discussion on Interlinked connection

Professional
Development
To provide multi-dimensional Knowledge gain SEP provides multi-dimensional opportunities to gain new knowledge, collect necessary
opportunities to students to develop information, and focus on the conceptual feeling of the workplace. In this phase, an
their workplace skills. action like goal and priority setting, assessing requirements, attending, and actively
interacting in the workplace that is the base of Professional Development.
To provide multi-dimensional Screening models Interns get opportunities for screening models at their workplace for updating their skills
opportunities to students for through participating in all activities like school and classroom rounds, peer discussion,
updating their workplace skills. using instructional artifacts, planning to develop and listening or watching audio-visual
system of presentation.
To offer opportunities to explore the Reflection on Future orientation programme offer opportunities to analyze instructional plans and
possibilities of a ‘future orientation’ practice procedures based on new concepts of knowledge through maximum use of journals and
program. periodicals or teacher authored cases for fellow discussion and its reflection on the minds
of the others during the School Experience Programme.
To foster a good association Shifting Practice To foster a good association between schools, students, and university programs SEP
between schools, students, and transform new knowledge into a nucleus and collaborative programs and action for
university programs further instructional change that leads to professional development.
To provide an opportunity to the Gaining & Sharing Gaining & Sharing experience is an opportunity for the interns to analyze their Strengths,
students to analyze their Strength, experience Weakness, Opportunities, and Threat to continue to refine their professional
Weakness, Opportunities, and development.
Threat (SWOT)
CONCLUSION should fuse the resources of universities and school districts

in creating seamless connections between school
From the above discussion, it can be observed that School
experience programme and on-going professional
Experience Programme objectives are interlinked with the
development.
stages of professional development. Hereby it can be
suggested that if an intern goes through the SEP and attains REFERENCES
the objectives of the programme his/her professional 1. Abrudan, D.& Lazar, M.(2012). Internship Roles In Training
development simultaneously developed. And Professional Development Of Students Annals of
Faculty of Economics, University of Oradea, Faculty of
During SEP interns are engaged in substantive work Economics, vol. 1(1), pages 986-991, July. Retrieved from
requiring problem-solving, communicating with students, http://anale.steconomiceuoradea.ro/volume/2012/n1/144.pdf
and classroom management. The majority of intern's time is 2. Retrieved fromhttps://Careers.uiowa.edu/students/benefits-
spent engaging them in professional activities. From the internship.
discussion, we observe that interns will develop a personal
3. Retrieved fromhttp://blogs.kqed.org,mindshift/2011/11/five-
work ethic and be able to investigate their career interests, big-changes-to-the-fiture-of-teacher-education/
teaching goals and all this leads to professional
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development. As per today's requirement, the policymaker teacher education, New Delhi Retrieved from
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http://archive.mu.ac.in/myweb_test/ma%20edu/Teacher%20Ed
ucation%20-%20IV.pdf..
5. NCTE (2010) Review committee for teacher education, New
Delhi. Retrieved from
https://niti.gov.in/planningcommission.gov.in/docs/aboutus/co
mmittee/wrkgrp12/hrd/wg_teacher1708.pdf.
6. Sadia, A. (2020) impact of internship programme on the
professional and personal development of business students: A
case study in Pakistan published in future business journals
Retrieved fromhttps://doi/10.1186/s43093-019-0007-3.
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ENDURANCE OF OEMS THROUGH EFFECTIVE HRD CLIMATE
*
Chirag V. Vyas
*
Faculty – ILA Academy, Bhavnagar, Gujarat
ABSTRACT
Purpose: The purpose of this paper is to extend the endurance strategy of selectedf Original Equipment
Manufacturers (OEMs)of Bhavnagar District of Gujarat State,from the perspective of HRD Climate by
investigatinghow OEMs survive.Total 260 respondents participated in this research study. Number of
respondents from category A Cluster is 147 Employees (Executives 58, Non Executives 89). Number of
respondents from category B Cluster is 93 Employees (Executives 24, Non Executives 69). Number of
respondents from category C Cluster is 20 Employees (Executives 08, Non Executives 12).
Design/Methodology/Approach – This paper is based on original questionnaire by Prof (Dr) T.V. Rao,
which was restructured due to the local population of Bhavnagar district by the researcher. The research
questionnaire is based on likert’s five point scale. This cross-sectional study is conducted in Bhavnagar
District. This paper offers an analysis of General Climate, OCTAPAC and HRD mechanism and its
impact on each employee’s performance in selected Original Equipment Manufacturers (OEMs) of
Bhavnagar District of Gujarat State.
Findings – The main finding is that overall HRD Mechanism in selected OEMs of Bhavnagar District
was truly at Good level in reliability test (Cronbach's Alpha). The Value of Cronbach’s Alpha (.903) for
Overall HRD climate is a Good level of internal consistency prevailing in selectedOEMs of Bhavnagar
District, which indicates a good sign for selected OEMs growth. It shows that their employees are
satisfied with the working environment, climate and culture. The group average Mean of the items was
found to be (74.32) with a standard deviation of (10.083).
Originality/value –This research paper gives a more complex understanding of General Climate (GC),
OCTAPAC, HRD Mechanism and Overall HRD climate prevailing in selected OEMs of Bhavnagar
District.
Keywords: General Climate (GC), OCTAPAC, HRD mechanism, HRD ClimateOriginal Equipment
Manufacturers (OEMs), Bhavnagar District.
INTRODUCTION
An Original Equipment Manufacturer or OEM is a connection between the OEMs and more dominant
company that resells products or parts of a product of manufacturing customers has been somewhat
another company to its own customers while putting the unpredictable.
products under its own branding. OEMs usually operate in
LITERATURE REVIEW
the IT and computer industries.An OEM is often the direct
client of a manufacturing company and its reseller to Peter and Waterman Et. al. (1982) suggest that
specific consumers. For instance, a Lenovo laptop Organization Culture (OC) can impact execution and
computer’s parts aren’t all manufactured by Lenovo devotion in a Firm and a high level of organization
because some parts, such as its processor or memory execution is connected to a well-manufactured culture that
module, may be the products of another company.The is a culture with very much fused and triumphant
original equipment manufacturer, or OEM, is a very arrangement of ethics, confidence and moral conduct. Rao
important source of supply for most manufacturers. (1984) led an exploration to recognize HRD atmosphere in
Indian Firms. The examination uncovered that the General
Items produced by these OEMs include Earth Moving,
Climate (GC) was very little great to HRD because of
Mining & Mineral Processing, Railway, Steel Plants,
absence of enthusiasm of the workforce to their individual
Cement, Energy, Valves & Pumps, Electro Locomotive,
enlargement. The top organization in the greater part
Aerobridge, Oil Exploration, Shipping, General
businesses was not improving enough torments to get the
Engineering, Automotive, Aerospace, Turbochargers for
nature of work life. Srivastava and Sharma (1984)
Diesel Engines, Power plants, Pumps & Valves, Medical
recognized in his examination the nearness of the
Implants, Electrical & Instrumentation, Electronics,
empowering join among OC and employment
Compressors, Artisan Castings, Machined Components
fulfilment.Jitendra G, Suresh Rao et. al. (2018) directed
from Barstock, Defence, Saddle that eventually become
research on "Effect of Demographic factors on view of
part of the manufacturer’s finished product. The traditional
HRD implementation with effective utilisation of
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Employees’ Performance in Textile Industry of Andhra on designation (Cadre), to study the differences in the
Pradesh" and found in their exploration study that out of perception of employees based on Education
375 Managers in Textile Industry, a large portion of this qualification.Research Design used for the purpose of
examination demonstrates that Employees see one another research study isSingle Cross Sectional Descriptive
however they never bolster each other in their occupations. Research Design.Data collection tool used for this research
work isStructured Questionnaire. The Population of the
RESEARCH GAP
Study is the employees working in OEMs in Bhavnagar
There was few research studies carried out on OEMs and District. A tool for data collection used isa Questionnaire
HRD Climate with special reference to bottom level (Structured). Sampling Unitused is employees working in
employees working in selected OEMs of Gujarat State with OEMs and Sampling Designused for the purpose of the
special focus on Saurashtra Region. In 21 st century its truly research study is Non Proportional – Quota Sampling.Total
high level of competition, if companies wants to survive, 260 respondents participated in this research study which is
it’s needed to identify the various factors, one of them is further divided into 3 clusters. Number of respondentsfrom
HRD Climate.Itconsist three parts 1. General Climate (GC), category A Cluster is 147 Employees (Executives 58, Non
OCTAPAC and HRD Mechanism. It was found that in Executives 89). Number of respondents from category B
OEM sector, no proper research studies conducted with Cluster is 93 Employees (Executives 24, Non Executives
specific to Bhavnagar District. 69). Number of respondents from category C Cluster is 20
Employees (Executives 08, Non Executives 12).
RESEARCH METHODOLOGY
LIMITATIONS OF THE STUDY
Primary Objective is to study the HRD Climate prevailing
in selected OEMs in Bhavnagar District.Secondary Primary data relevant for the study may be much depended
ObjectivesIncludes to study the differences in the upon the co-operation of the respondents. Respondent’s
perception of employees based on gender, to study the opinion can be biased, which cannot be ruled out andthe
differences in the perception of employees based on age, to geographical limitation (research study limited to
study the differences in the perception of employees based Bhavnagar District Only).
DATA ANALYSIS AND INTERPRETATION

Table No.: 1Gender of Respondents
Gender Respondents Percentage
Male 243 93 %
Female 17 7%
Total 260 100 %
Table No. 1 shows total number of respondents and their OEMs of Bhavnagar District, most of them are Males even
Gender.Out of Total 260 Respondents 243 (93%) were as observed in this research too. Very limited numbers of
Male and 17 (7%) were Female.Researcher observed with Females are working in this segment for the specific region.
this information that, in general, employees working in
Table No.: 2 Cadre of Employees Working in OEMs.
Employee Cadre Respondents Percentage
Executives 115 44 %
Non Executives 145 56 %
Total 260 100 %
Table No. 2 shows information regarding cadre of District executives and Non Executives both categories of
employees working in OEMs of Bhavnagar. Out of Total respondents provided their honest responses in regards to
Respondents 145 (56%) were Non Executives and 115 their organization’s Human Resource Development
(44%) were Executives. Its show that in Bhavnagar climate.
Table No.: 3 Education of Employees Working in OEMs.
Education Respondents Percentage
Below Graduate 118 45 %
Graduate 99 38 %
Post Graduate 43 17 %
Total 260 100 %
Table No. 3 shows information regarding the education active regarding their work, followed by 99 (38%)
qualification of the employees working in selected OEMs Graduate and 43 (17%) were Post Graduate. Some of
of Bhavnagar. Out of Total Respondents 118 (45%) were them just graduate still working as Executive cadre in their
Below Graduatebut still most of them are practically respective organization
.
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Table No.: 4Age of Employee working in OEMs
Employees Age Respondents Percentage
21-30 129 50 %
31-40 19 7%
41-50 61 23 %
51-60 51 20 %
Total 260 100 %
Table No. 4 gives information about the age ofrespondents. group 31 – 40 years.Thus, majority of the respondents
Out of Total Respondents Majority of the employees 129 (50%),belong to a comparatively younger age. This age
(50%) were belongs to the age group 21 – 30 years group is generally lookedupon as energetic and efficient
followed by 61 (23%) were in age group 41 – 50 years, 51 age group.
(20%) were in age group 51 – 60 and 19 (7%) were in age
Table No.: 5 Awareness aboutHRD Climate.
Awareness Respondents Percentage
Yes 223 86 %
No 37 14 %
Total 260 100 %
The above Table No. 5 gives information aboutthe (86%) were aware about HRD Climate and 37 (14%)
awareness on HRD Climate. Out of Total Respondents 223 were not aware about HRD Climate.
Table No.: 6 Reliability Test – General Climate

Cronbach's Alpha Cronbach's Alpha Based on Standardized Items N of Items
.714 .716 2
Scale Statistics
Mean Variance Std. Deviation N of Items
8.75 1.634 1.278 2
The Value of Cronbach’s Alpha (.714) for General continuous growth and developmentin Selected OEMs. The
Climate in Selected OEMs shows that there is Mean score of employees working in OEMs of Bhavnagar
anAcceptable level of internal consistency prevailing in District for General Climate put together (8.75) and
OEMs located in Bhavnagar District, which shows that Standard Deviation (SD) (1.278)
there is astill need to Improve General Climatefor
Table No.: 7 Reliability Test – OCTAPAC
.840 .841 10
Scale Statistics
41.25 29.632 5.444 10
The Value of Cronbach's Alpha (.840) personal problems with their seniors and subordinates. The
forOCTAPACwhich indicates,Good level of internal overall OCTAPAC prevailing in the selected OEMs of
consistency for Reliability of OCTAPAC prevailing in Bhavnagar District seems to be mean score (41.25).
OEMs of Bhavnagar District. As here it has found that Standard Deviation (SD) for OCTAPAC put together is
people trust on each other and they even shares their (5.444).
Table No.: 8 Reliability Test – HRD Mechanism
.719 .782 6
Scale Statistics
24.32 16.667 4.083 6
The Value of Cronbach's Alpha (.719) for HRD there is no much need to improve HRD Mechanism in
Mechanism in Selected OEMs shows that there is a Selected OEMs. The group average Mean of the items was
Acceptable level of Internal consistency prevailing in found to be (24.32) with a standard deviation of (4.083).
OEMs located in Bhavnagar District, which shows that
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Table No.: 9 Reliability Test – Overall HRD Climate
.903 .914 18
Scale Statistics
74.32 101.670 10.083 18
The Value of Cronbach’s Alpha (.903) for Overall HRD the three sectors of business, it is evident that excellent
Climate, Which indicates excellent level of internal HRD climate was prevailing in the OEMs of Bhavnagar
consistency for Reliability of OCTAPAC prevailing in District as Mean score is (74.32) and Standard Deviation is
OEMs of Bhavnagar District. Overall, putting together all (10.083).
Table No.: 10 CHI-SQUARE Analysis

HRD Climate Awareness Among employees V/s Employee Cadre (Cross tabulation)
Are You Aware About HRD Climate?
Total
No Yes
Count 1 114 115
Executive
Expected Count 16.4 98.6 115.0
Employee Cadre
Count 36 109 145
Non Executive
Count 37 223 260
Total
Table No.: 11 Case Processing Summary (CHI SQUARE Analysis)

Cases
Valid Missing Total
N Percent N Percent N Percent
Employee Cadre * Are You Aware About HRD Climate? 260 100.0% 0 .0% 260 100.0%
FINDINGS 21-30 years) believed that they are getting sponsorship

from their respective organisations for training and
129 (50%) respondents (belongs to age group 21-30 years)
development programs, which they should be provided for
believed that they are getting enough freedom and
individual as well as organisational development point of
importance in their concern organization. 51 (20%)
view.
respondents (belongs to age group 51-60 years) believed
that their concern organisations’ policies facilitate 129 (50%) respondents (belongs to age group 21-30 years)
employees’ development.129 (50%) respondents (belongs believed that they are able to apply the concept called
to age group 21-30 years) believed that their concern T.E.A.M. (Together Everyone Achieves More) and they get
organisations’ top management putting efforts to identify support of each other’s strengths & weaknesses. 129 (50%)
and utilize their potentials.129 (50%) respondents (belongs respondents (belongs to age group 21-30 years) believed
to age group 21-30 years) believed that they are getting that Promotion discuss are based on the contemporary and
enough freedom to express their feelings and ideas with abilities rather than based on any favoritism. It will damage
their superiors and subordinates. their working performance individually as well as
organisational performances.
believed that when problems arise people are discussing 129 (50%) respondents (belongs to age group 21-30 years)
these problems openly and will try to solve them rather believed that senior officers from their concern
accusing each other behind the back. 129 (50%) organisations are pointing out in identifying career
respondents (belongs to age group 21-30 years) believed opportunities available for them. 129 (50%) respondents
that their seniors are helping them to identify their strength (belongs to age group 21-30 years) believed that in their
and weakness and are also helping them to solve the respective organisations, Job rotation facilitates employee’s
mistakes if they made. development.51 (20%) respondents (belongs to age group
51-60 years) believed that seniors don’t guide their juniors
and prepare them for their future responsibilities / roles
believed that their respective organisations’ top
they are likely to take up in the future.
management identifying their potentials and
competencies.129 (50%) respondents (belongs to age group
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CONCLUSION
Employees must be given guidance and suggestions
regarding their mistakes in place of punishments.The study
reveals that employees expecting support for training
programs from Top management, as these training
programs will be useful for the development of both
Individuals as well as organizations. Employees from each
cadre must be provided counseling and mentoring to
develop and maintain the TEAM (Together Everyone
Achieves More) concept. Its observe red that the positive
results leads to the age group 21 – 30 years who are most
energetic, innovative and believed in the concept TEAM.
While the age group 31-40 is less interested in work. It has
also found that employees in the 51 – 60 age group and 21
– 30 years mindset and working pattern having major
differences.
It has also observed by the research in this research study
based on their cadre even though most of the respondents
were belongs to Non Executive category (56%) and
Executive category (44%), but the good part of this is most
from non executives also knowing about this concepts and
working positively in their respective organisations.While
considering the education qualification, most of the
employees (45%) respondents are below graduate, followed
by graduate (38%) and Post Graduate (17%) but still it was
observed in most popular and old organisations of
Bhavnagar having executives who are just graduate or even
some of them are below graduate. This is due to their long
relations with the same organisation and their dedicated
expert working pattern.In Nutshell, HRD Climate is
positive and healthy working environment prevailing in
selected OEMs of Bhavnagar District.
REFERENCE
1. Peters, T.J. and Waterman, R.H. (1982) In Search of Excellence:
Lessons from America’s Best-Run Companies. Harper & Row,
New York.
2. Rao T.V. (1984): “Role of Training in Human Resource

Development”. Indian Journal of Training and Development,
Vol. 14, No.3, PP.118-122.
3. Srivastava and Sharma (1984), “Organisational Culture as related

to Industry, Position and Performance: A Preliminary Report”,
Journal of Management Studies, Vol. 23, No.3.
4. G. Jitendra, Prof. B. Suresh Rao, Dr. N. Visaalakshi (2018),

“Impact of Demographic variables on perceptions of HRD
Practices and Employee Performance in Textile Industry of
Andhra Pradesh.”, MITS International Journal of Business
Research, pp. 36-48.
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REAL EARNINGS MANAGEMENT ACROSS FIRM LIFE CYCLE: AN
EMPIRICAL ANALYSIS IN THE INDIAN CONTEXT
*
Khushboo
*
Research Scholar, University Business School, Panjab University, Chandigarh
ABSTRACT
The fundamental differences among the Firm Life Cycle stages posit varying ability and motivation of
managers to engage in Real Earnings Management (REM). The related literature has dealt with mostly
Accrual Earnings Management and captured developed countries. This study aims to examine the
behaviour of REM of managers from Firm Life Cycle perspective. The sample of the study consists of all
the companies listed on the Bombay Stock Exchange as on 31 st March, 2019 for ten financial years i.e.,
31st March, 2010- 31st March, 2019. Upon controlling for firm-specific variables, this study finds that
firms in Introduction and Decline stage indulge in REM through overproduction and heavy sales
discounts. Growth and Mature firms do not indulge in REM significantly. The findings of the study have
important implications for investors and policy makers of Indian firms.
Keywords: Real Earnings Management, Firm Life Cycle, Earnings Quality
I. INTRODUCTION of all the companies listed on the Bombay Stock Exchange
as on 31st March, 2019 for ten financial years i.e., 31 st
The extensive literature concerning Earnings Management
March, 2010- 31st March, 2019. The study makes notable
(EM, hereafter) have shown that the earnings quality of a
contribution in the literature by introducing FLC dynamics
firm and a manager’s tendency to distort earnings are found
in the domain of EM.
to be associated with many business fundamentals like
audit quality (Chi et al., 2011), accounting standards (Zang, II. LITERATURE REVIEW AND HYPOTHESIS
2012), corporate governance (Xie et al., 2003), capital DEVELOPMENT
market incentives (Gunny, 2010) and other firm
Firms do not follow a static pattern and go through multiple
characteristics. These associations are subject to change
phases during their lifetime. They are called FLC stages,
when moderated by the life cycle stage that a particular
viz., Introduction, Growth, Maturity, Shake-out and
firm is at.
Decline (Dickinson, 2011). Every FLC stage posits
A firm’s life cycle (FLC, hereafter) consists of various different opportunities and threats in the business
stages which originate from both internal and external environment. How these modalities of FLC stages predicate
factors (Dickinson, 2011). The fundamental differences the managers’ outlook towards REM is to be seen next.
among the FLC stages posit varying ability and motivation
The young and rapidly growing firms in the Introduction
of managers to engage in EM. For example, Introduction
stage face high risk and uncertainty in the market (Yoo et
and Decline stages of FLC correspond to highly unstable
al., 2019; Jovanovic, 1982). These firms experience low
environment which makes EM even more desirable.
profits and difficulties in meeting expenditures (Hussain et
Therefore, there is a need to study the EM behaviour of
al., 2020). They are characterised by high cost of debt,
managers from FLC perspective.
bankruptcy risk (Akbar et al., 2019) and lower internal
The literature on EM documents three types of strategies, controls (Doyle et al. 2007). Therefore, as reported by
i.e., Accrual earnings management, Real earnings Hussain et al. (2020), managers of firms in Introduction
management (REM, hereafter) and Classification Shifting stage have greater motives to manage earnings.
which managers use to distort earnings. Regarding the
As the firms move towards growth stage, they start
examination of EM from FLC dynamics, the related
generating positive cashflows from operating activities and
literature has dealt with mostly Accrual EM (Krishnan et
the business environment starts to stabilize (Dickinson,
al., 2020; Chen et al., 2010; Hastuti et al., 2017). Also, the
2011). High sales and profit growth in this stage (Akbar et
studies addressing the issue mostly pertain to developed
al., 2019) keeps the managers from wanting to manipulate
countries.
earnings. Also, these firms attract greater analysts’
In view of this, this study aims to determine the impact of coverage (Hasan & Habib, 2017).
FLC on REM in the Indian context. Dickinson’s (2011)
Upon maturity, firms attain better quality of governance
model is followed to measure FLC stages of the sample
(O’Connor & Byrne, 2015). Although these firms bear
companies. The proxies used for REM are abnormal
pressure to meet earnings benchmarks (Nagar &
discretionary expenditures, production costs and cash flow
Radhakrishnan, 2017; Graham et al., 2005), strong internal
from operations (following Roychowdhury, 2006; Cohen et
controls and reduced uncertainty result in containing EM.
al., 2008; Gunny, 2010). The sample of the study consists
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As reported by Zadband and Omrani (2014), Maturity firms database maintained by the Centre for Monitoring the
are associated with highest level of reporting quality. Indian Economy.
The performance graph starts to wane in Shake-out and Initial sample consists of 47,790 firm-year observations
Decline stage. Falling sales volume and profit figures in from which all the public sector companies and all the
Decline stage (Hribar and Yehuda, 2015) might make the banking and financial companies were deleted. Further,
firms financially distressed. This motivates the managers to those companies which started trading on BSE after 1 st
resort to EM (Rosner, 2003). Based on this argument, April, 2009 and companies which had a change in fiscal-
following hypothesis is formulated: year end during the study period were also eliminated. The
requirement of EM estimation models of atleast 10
Hypothesis: REM is higher during the Introduction and
observations with no missing data in each industry-year
Decline stages of FLC than in Growth and Maturity.
group further resulted in deletion of some observations
III. DATA AND METHODOLOGY (industries identified on the basis of two-digit NIC
classification). Finally, the companies which had missing
3.1 Sample Selection and Data Sources data required for calculating Dickinson’s (2011) life-cycle
The sample of the study consists of all the companies listed stages were also deleted. This resulted in final sample of
on the Bombay Stock Exchange as on 31st March, 2019 for 16,520 observations. Table 1 presents the summary of the
ten financial years i.e., 31st March, 2010 - 31st March, 2019. sample selection procedure.
The information was gathered from Prowess, a corporate
Table 1: Summary of Sample Selection Criteria

Selection Criteria Number of
Observations
Companies listed on Bombay Stock Exchange as on 31st March, 2019 47,790
Less: Public sector enterprises 640
Banking and Financial sector companies 10,500
Companies with first trading date falling after 1st April, 2009 8,440
Companies with change in fiscal-year end 3,060
Companies with missing data for estimation models 7,278
Companies with insufficient observations per industry-year group 387
Companies with missing data for Dickinson’s (2011) life cycle stages 965
Final number of observations 16,520
Source: Author’s own calculations
3.2 Variable Selection and Description REM are abnormal discretionary expenditures
(Abn_SG&A), abnormal production costs (Abn_Prod) and
3.2.1Dependent Variable: Real Earnings Management
abnormal cash flow from operations (Abn_CFO). These
Following the studies of Roychowdhury (2006), Cohen et proxies are calculated as residuals of the following
al. (2008) and Gunny (2010), the proxies used to measure regressions:
(1)
(2)
(3)
Where SG&Ait is the selling, general and administrative consistent with Cohen et al. (2008), Zang (2012), Chi et al.
expense for firm i in year t; Prodit is the sum of cost of (2011), Doukakis (2014), a comprehensive measure ofEM
goods sold in year t and change in inventory from year t-1 by real activities is also developed (REM_1) by combining
to t; CFOit is cash flow from operations; Assetsit-1 is the the three individual measures of REM. So, REM_1 is the
total assets in year t-1; ∆Salesit is the change in revenues sum of all the three measures (-Abn_SG&A + Abn_Prod –
for firm i from year t-1 to t. These models (equation 1-3) Abn_CFO).
are estimated cross-sectionally for every industry-year with
3.2.2Independent Variable: Firm’s Life Cycle
at least 10 observations.
Following Dickinson (2011), cash flow patterns are used as
Following the prior literature on REM (Cohen & Zarowin,
indicators of FLC stage. Table 2 shows the mapping of life
2010; Zang, 2012), Abn_SG&A and Abn_CFO are
cycle stages corresponding to different combinations of
multiplied by minus one, so that higher the amount of these
cash flow activities. There are five stages of FLC:
residuals, more likely the firm’s engagement inEM. Also,
Introduction, Growth, Maturity, Shakeout and Decline.
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Table 2: Dickinson’s (2011) Model of FLC Classification
Cash Flows Introduction Growth Mature Decline Shake-out
Operating - + + - Any other combination
Investing - - - +
Financing + + - +/-
Source: Dickinson (2011)
Figure 1 shows the distribution of sample firm-years into Maturity Stage. Remaining sample is almost equally
different FLC stages on the basis of Dickinson’s (2011) divided in the other four stages, Decline being the lowest.
model. Almost half of the sample firm-years fall in
Decline Introduction
10% 12%
Shake-out
14% Growth
18%
Maturity
46%
Figure 1: Classification of Sample firm-years in FLC Stages
Dummy variables are introduced for all the FLC stages, which all other stages will be analysed. Table 3 provides a
except Shake-out.Shake-out stage is the benchmark against detailed description of all the variables.
Table3: Variable Selection and Description
Sr. Symbol Used Definition Source
No.
I. Dependent Variable ( )
1. Abn_SG&A Residuals of regression equation (1)
2. Abn_Prod Residuals of regression equation (2)
3. Abn_CFO Residuals of regression equation (3) Author’s own calculations
II. Independent Variables (Firm’s Life Cycle Stage)

1. Intro Dummy variable, 1 if the firm-year falls in Introduction stage
of Dickinson (2011) model, 0 otherwise
2. Growth Dummy variable, 1 if the firm-year falls in Growth stage of
Dickinson (2011) model, 0 otherwise
3. Maturity Dummy variable, 1 if the firm-year falls in Maturity stage of Author’s own calculations
4. Decline Dummy variable, 1 if the firm-year falls in Decline stage of
III. Control Variables
1. ROA Ratio of Net Income divided by Total Assets
2. logTA Natural logarithm of Total Assets
3. PB Firm’s price to book ratio
4. LEV Ratio of Total Liabilities divided by Total Assets Prowess
Source: Author’s own compilation
IV. DATA ANALYSIS
(4)
To test the hypothesis, following regression equation was
employed: Where,
Dependent variable = REMit, which takes value of all REM
proxies (Abn_SG&A, Abn_Prod, Abn_CFO and REM_1)
sequentially
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Independent Variables = Dummy Variables for FLC control for within-firm correlations in errors (Zang, 2012;
stages (Introduction, Growth, Maturity, Shakeout and Chi et el., 2011; Doukakis, 2014; Prawitt et al., 2009;
Decline), which takes value 1 if the firm-year belongs to Gunny, 2010), test statistics are based on robust standard
respective stage, 0 otherwise errors (clustered at firm-level).
Control Variables = ROA, LogTA, PB, LEV Descriptive Statistics
The association between FLC and REM has been analysed Table 4 provides the descriptive summary of the continuous
through panel data regression model. The model controls variables of the study. Means of all the REM proxies are
for year fixed effects. Given the large size and diverse negative, Abn_SG&A being the highest negative at -0.15.
industry affiliation of the sample, influence of potential The standard deviation ranges from 0.31 to as high as 1.95.
outliers needs to be mitigated. So, following the literature, Among the control variables, LogTA takes the highest value
all the continuous variables are winsorized year-wise at of 7.72, followed by ROA at 2.43. However, ROA has the
their respective 1st and 99th percentiles. Additionally, to highest standard deviation of 8.92.
Table 4: Descriptive Statistics
Variable Mean Std. Dev. Min Max
Abn_SGA -0.1513 1.7679 -14.0110 31.0677
Abn_Prod -0.0089 0.3603 -2.9725 2.4359
Abn_CFO -0.0013 0.3084 -2.3326 2.1698
REM_1 -0.1453 1.9490 -14.2793 31.0650
ROA 2.4316 8.9205 -51.9 28.7
LogTA 7.7229 1.9126 3.6 13.2336
PB 1.8744 3.0778 -6.2338 24.12
LEV 0.5638 0.3444 0.0367 3.1921
Source: Author’s calculations
Correlation Analysis
Table 5 reports pairwise correlation between all the
variables of the study.REM proxies have a significantly
positive correlation with each other, except Abn_SG&A and
Abn_CFOwhich have a significantly negative correlation.
Intro and Decline show a significantly positive correlation
with all the REM proxies, whereas Maturity has
significantly negative correlation with them. Correlation
between Growth and REM proxies is not significant. These
results are in line with the hypothesis of the study that the
firms in Introduction and Decline stages are more likely to
engage in REM. Among the control variables, all of them
have a significant and negative correlation with the REM
proxies, except LEV which has a positive correlation.
V. RESULTS AND DISCUSSION
The results of the panel data regression used to test the
association between FLC and REM, while controlling for
firm-specific variables, are presented in Table 6. For the
first model, i.e., with Abn_SG&Aas dependent variable,
Intro and Growth have positive coefficients whereas
Maturity and Decline have negative coefficients. However,
none of the stages enter the equation significantly. For
Abn_Prodas dependent variable, Intro (β = 0.07, t = 5.70)
and
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Table 5: Pairwise Correlation

Variables Abn_SGA Abn_Prod Abn_CFO REM_1 Intro Growth Maturity Decline ROA LogTA PB LEV
Abn_SGA 1.000
Abn_Prod 0.024*** 1.000
Abn_CFO -0.021*** 0.267*** 1.000
REM_1 0.925*** 0.280*** 0.215*** 1.000
Intro 0.015** 0.073*** 0.183*** 0.059*** 1.000
Growth -0.003 0.001 -0.013* -0.004 -0.169*** 1.000
Maturity -0.024*** -0.066*** -0.149*** -0.059*** -0.331*** -0.432*** 1.000
Decline 0.021*** 0.035*** 0.124*** 0.046*** -0.122*** -0.160*** -0.312*** 1.000
ROA -0.066*** -0.097*** -0.058*** -0.086*** -0.103*** 0.077*** 0.212*** -0.211*** 1.000
LogTA -0.096*** -0.023*** -0.018** -0.098*** -0.073*** 0.055*** 0.099*** -0.136*** 0.194*** 1.000
PB -0.046*** -0.039*** -0.025*** -0.053*** -0.019** -0.004 0.066*** -0.057*** 0.262*** 0.163*** 1.000
LEV 0.006 0.055*** 0.010 0.015** 0.055*** -0.019** -0.065*** 0.011 -0.480*** -0.008 -0.104*** 1.000
*** p<0.01, ** p<0.05, * p<0.1
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Decline (β = 0.03, t = 2.39) show significantly positive replicates the results of Abn_Prod. Positive coefficients are
coefficients at 1 and 5 percent respectively. The other two reported for Intro (β = 0.32, t = 4.41) and Decline (β =
stages do not show significant coefficients. For Abn_CFO 0.18, t = 3.23), significant at 1 percent. Among the control
as dependent variable, Intro (β = 0.19, t = 18.30), Growth variables, ROA has negative coefficients in all the models
(β = 0.03, t = 3.01) and Decline (β = 0.15, t = 13.56) have and they are significant in three of the REM proxies.
positive coefficients significant at 1 percent while Maturity LogTA is also significant for three proxies but shows mixed
shows a negative coefficient (β = -0.01, t = -2.02) signs in the models. PB and LEV do not enter the equations
significant at 5 percent. The overall REM proxy, REM_1, significantly, except for REM_1.
Table 6: Regression Results: Impact of Firm Life Cycle on REM
Abn_SG&A Abn_Prod Abn_CFO REM_1
Intro 0.0387 0.0735*** 0.193*** 0.322***
(0.59) (5.70) (18.30) (4.41)
Growth 0.0339 0.0141 0.0254*** 0.0775

(0.64) (1.36) (3.01) (1.30)
Maturity -0.0032 -0.0091 -0.0148** -0.0271

(-0.08) (-0.97) (-2.02) (-0.61)
Decline -0.0018 0.0303** 0.149*** 0.184***

(-0.04) (2.39) (13.56) (3.23)
ROA -0.0108*** -0.0030*** -0.0003 -0.0138***

(-5.38) (-4.58) (-0.81) (-5.54)
LogTA -0.0764*** 0.0005 0.0035* -0.0765***

(-6.02) (0.21) (1.92) (-5.23)
PB -0.0101 -0.0019 -0.0011 -0.0128*

(-1.63) (-1.11) (-1.08) (-1.70)
LEV -0.105** 0.0166 -0.0079 -0.105*

(-2.10) (1.37) (-0.81) (-1.79)
Constant 0.534*** -0.0215 -0.0566*** 0.505***

(5.13) (-1.08) (-3.50) (4.24)
Adjusted R-squared 0.020 0.015 0.059 0.023
F 9.996 16.87 95.53 16.61
4. * p<0.10, ** p<0.05, *** p<0.01
Source: Author’s Calculations
Discussion CONCLUSION
The results of the panel data regression models assessing This study aimed at examining the impact of FLC stages on
the impact of FLC on REM show that the hypothesis of REM practices of all the companies listed on BSE for ten
likelihood of Intro and Decline firm-years engaging in financial years i.e., 31st March, 2010 – 31st March, 2019
REM is partially supported by the study. The results do not using panel data analysis on 16,520 firm-year observations.
find significance of any of the stages in case of Abn_SGA. FLC is measured using Dickinson’s (2011) model. The
However, Intro and Decline stage firm-years have proxies used for REM are abnormal discretionary
significant and positive coefficients in case of Abn_Prod expenditures, production costs and cash flow from
and Abn_CFO, indicative of greater likelihood of such operations (following Roychowdhury, 2006; Cohen et al.,
firm-years to indulge in overproduction to reduce cost of 2008; Gunny, 2010).
goods sold and give heavy sales discounts to achieve
Upon controlling for firm-specific variables, this study,
targeted sales (similar to Hasan & Habib, 2017; Hussain et
consistent with the proposition, finds that firms in
al., 2020). Growth and Maturity firm-years indulge in REM
Introduction and Decline stage indulge in REM through
through none of the activities but Abn_CFO, with a positive
overproduction and heavy sales discounts. Growth and
and a negative coefficient respectively. It shows less
Maturity firms do not indulge in REM significantly.
involvement of managers of such firms in REM (similar to
However, no firm in any of the stages cut discretionary
Nagar & Radhakrishnan, 2017; Hussian et al., 2020). The
expenditures to manipulate earnings.
overall REM proxy, REM_1 shows significance of Intro
and Decline firm-years only, thus upholding the hypothesis The findings of the study have important implications for
of the study. investors and policy makers of Indian firms. The investors
should interpret the financial statement of Introduction and
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Decline firms with caution as such firms have high 17. O’Connor, T., & Byrne, J. (2015),“Governance and the
corporate life-cycle”, International Journal of Managerial
tendency of manipulating real activities. The regulators
Finance, 11(1), 23–43.
should adopt measures to restrict such endeavours and
ensure fair reporting practices. 18. Prawitt, D. F., Smith, J. L., & Wood, D. A. (2009),“Internal
audit quality and earnings management”, Accounting Review,
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Bankruptcy Risk Tied to Corporate Life-Cycle? Evidence from Contemporary Accounting Research, 20(2), 361-408.
Pakistan”, Sustainability, 11(3), 678. 20. Roychowdhury, S. (2006),“Earnings management through real
2. Chen, S. K., Lin, B. X., Wang, Y., & Wu, L. (2010),“The activities manipulation”, Journal ofAccounting and Economics,
frequency and magnitude of earnings management: Time-series 42(3), 335–370.
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Economics & Finance, 19(4), 671-685. management and corporate governance: The roles of the board
3. Chi, W., Lisic, L. L., & Pevzner, M. (2011),“Is enhanced audit and the audit committee”, Journal of Corporate Finance, 9(3),
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4. Cohen, D. A., Dey, A., & Lys, T. Z. (2008),“Real and accrual- cycle on the relationship between R&D expenditures and future
based earnings management in the pre- and post-Sarbanes- performance, earnings uncertainty, and sustainable growth”,
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adoption on real and accrual-based earnings management
activities”, Journal ofAccounting and Public Policy, 33(6), 24. Zang, A. Y. (2012).“Evidence on the trade-off between real
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performance: Evidence from meeting earnings benchmarks”,
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EVALUATING WORKFORCE EXPECTATIONS AND SATISFACTION WITH
TRAINING PRACTICES OF PUNJAB TOURISM INDUSTRY
* **
Ramanpreet Kaur Manju Mittal
*
Research Scholar, Punjabi University, Patiala
**
Assistant Professor, GSSDGS Khalsa College, Patiala, India
ABSTRACT
Training plays a significant role in the tourism industry where quality is the most important
characteristic creating uniqueness in an organisation. The present study is based on public sector
organisation. The study emphasis the importance of workforce expectations and satisfaction from
training. The purpose of this research is to analyze the gap between workforce expectations and
satisfaction in Punjab tourism industry. Paired t-test was applied. Results of paired T-test showed that
workforce expectations were met. This study suggests more understanding of the importance of
workforce expectations and satisfaction from training and its consequences on workforce training
practices in Punjab tourism industry.
KEYWORDS: Tourism Industry, Workforce Training, Training Expectations, Training Satisfaction
1. INTRODUCTION further training satisfaction and job satisfaction also
affected the confidence of career. The training expectations
Training is significant in the tourism industry which is
and satisfaction depends on various factors like trainer,
people oriented. Training is found to be significantly linked
training content, training objectives, training infrastructure
with trainees’ expectations and satisfaction. The aim of
and training feedback. There is a strong correlation
training programs is consequently to enhance the business
between training and other factors including increased
performance of organizations, thus the effectiveness of a
employee job satisfaction and length of employment
training program can be conceptualized as training
(Conrade and Woods, 1994). Trainer’s main objective is to
acquisition and transfer of training. Tourism industry has
transfer his knowledge and skills to the trainees which
become one of the fastest growing industries in the recent
involves identifying training courses, choosing appropriate
years. Training in the tourism industry is always in need of
training methods, evaluation of training activities, and
improvement. The training organizers need to know what
helping the trainee to transfer training at the work place
workforce expects from training, and how the tourism
(Singh and Banerjee, 2005). It becomes necessary to
training practice is perceived in order to improve the
understand the impact that Training Content on trainees’
training program. This study attempted to gain insights into
attitudes.Management can alter employees’ perceptions of
workforce expectations and satisfaction about training
training programs through the information that they provide
practices. The objectives were to investigate any
to organizational members regarding the content of a
discrepancies between workforce expectations and
training session. (Holladay et al 2008). Moreover, training
satisfaction and to explore the factors affecting expectation
methods are means of attaining desired objectives set for a
and satisfaction. No empirical research has been conducted
training program. In practice, a variety of training methods
on the evaluation of training practices of Punjab Tourism
are employed for achieving these objectives. Hence,
yet. This lack of research, along with the attention given to
organisation needs to select a method or mix of methods to
the concept of training in the tourism industry, was the
meet its training needs. The choice of training methods
driving force for this study.
would depend on a variety of factors, such as purpose of
OVERVIEW OF PHTPB AND DOT: training, nature of contents, relevance to the participants,
level of trainees, competence of trainers/ instructors, cost,
The Punjab Heritage & Tourism Promotion Board
etc. Training Feedback provides the clear picture of what
(PHTPB) was set up in 2002. The board along with DOT
weaknesses are there on the employees’ end those
organizes the training sessions for workforces. Directorate immensely need the training. Both training and feedback
of Tourism (DOT)plays as a facilitator, coordinator and can collectively bring sharpness in quality of processes
regulator in the expansion of private sector in the state of
performed by the employees. (Farooq & Khan 2011).
Punjab and also provides information to the tourists.
3. RESEARCH METHODOLOGY
2. REVIEW OF LITERATURE
SCALE: Existing review of literature regarding various
Before attending a training session, workforce has certain
aspects of tourism workforce’ expectations and satisfaction
expectations regarding training in their minds. Training about training was considered and accordingly statements
satisfaction exerts a cardinal impact on job satisfaction, were formed related to the expectations and satisfaction of
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workforce. Five-point Likert scale as used by Schmidt varimax rotation method (Hair. Jr, et al.,2010)Bartlett’s test
(2007), Costa (2006) and Holton (2000) was followed and of Sphericity (p<0.01) and Kaiser–Meyer–Olkin
modified to measure workforce expectations and (KMO=0.727) were used to examine the sampling
satisfaction. The minimum required sample size of 117 was adequacy (Field, 2009).In the model, six factors were
calculated using Taro Yamane’s (1973) formula from the identified using principal component matrix with an
total population of 300. The primary data was collected eigenvalue equal to or greater than 1 that explained 77.090
through stratified random sampling technique from per cent variance (Kaiser, 1960). Variation rotation
workforces who underwent training programs organised by technique was used to rotate the extracted factors. Six
DOT and PHTPB. factors were determined and 19 items were retained. These
factors were labelled as training feedback (factor loading
SAMPLE PROFILE: The respondents from Punjab
0.910 to 0.785), trainer (factor loading 0.893 to 0.772),
Tourism Industry included maximum workforces from the
training content (factor loading 0.902 to 0.769), training
department of PHTPB and DOT who were Tourist Officer,
outcome (factor loading 0.884 to 0.764), training relevance
Senior Scale Stenographer, Steno Typist (Sr.), Tourist
(factor loading 0.813 to 0.762), and training objectives
Guide, Office Assistant, Accounts Assistant, Community
(factor loading 0.869 to 0.851). Finally, only these six
Development Officer, Architectural Draftsman, Visitor
factors were selected which had an eigenvalue equal to or
Service Associate, Assistant Manager IT, Environment
larger than 1.0 whereas items with factor loading greater
Safeguard Specialist, Senior Assistant, Social Mobilizer,
than 4.0 were retained; no cross-loadings were observed
Steno Typist (Jr.) respectively.
(Nunnaly, 1978). The factor loadings are like correlations
4. DATA ANALYSIS AND FINDINGS between a factor and its measurements. Higher the loading,
more important is a measurement of the construct.
EXPLORATORY FACTOR ANALYSIS (EFA) AND
MEASUREMENT MODEL
The data was analysed with exploratory factor analysis
(EFA) by adopting principal component analysis and
Figure 1: Measurement model of Workforce’ Expectations and Satisfaction

Table 1 exhibits the factor loadings of confirmatory model. suggesting that more than 50% of the variance/information
These loadings are similar to the factor loadings shown in in the observed variable has been explained by the
table 1. But CFA being a constrained model, therefore there underlying construct or factor. This is a sign of the high
may be variation in the factor loadings. But as it can be level of convergent validity of the constructs (refer table 2).
seen that majority of the factor loadings are above 0.7
Table 1
Factor loadings of measurement model
Variable Trainer Training Content Training Feedback Training Outcome Training objectives Training relevance
Exp_12 0.9201
Exp_13 0.9229
Exp_14 0.7633
Exp_15 0.4953
Exp_17 0.7713
Exp_18 0.9394
Exp_19 0.9039
Exp_21 0.8752
Exp_22 0.9209
Exp_23 0.8298
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Exp_25 0.6943
Exp_26 0.8432
Exp_27 0.9076
Exp_28 0.9526
Exp_4 0.7988
Exp_5 0.9609
Exp_7 0.9304
Exp_8 0.7702
Exp_9 0.6103
The convergent and discriminant validity of the model was from 0.724 (training relevance) to 0.904 (training
measured. Convergent validity was tested using the average feedback). That showed the good reliability of the
variance extracted (AVE), Cronbach’s alpha, and constructs. Discriminant validity (Table 1) was assessed
composite reliability (CR). All the standardized loadings of through AVE for each latent variable included in the model
the constructs were more than the prescribed limit of 0.50 which should be greater than the inter-construct correlation
The values of CR were higher than the limit of 0.70 estimate (Fornwell&Larcker, 1981). The data given in the
(Fornell-Larker, 1981). Using Cronbach’s alpha, the Table 1 tells the fulfillment of the requirements.
reliability of the constructs was measured which ranged
Table 2
Reliability, Validity and Correlation among constructs
Range of standardized
Constructs AVE CR Cronbachs Alpha T TC TF TO TO TR
loadings
Trainer 0.6316 0.893 - 0.772 0.8672 0.8733 0.795
Training Content 0.7648 0.902 - 0.769 0.9064 0.8513 -0.214 0.875
Training
0.731 0.910 - 0.785 0.9147 0.9048 -0.086 0.189 0.855
Feedback
Training
0.7675 0.884 - 0.764 0.9081 0.8509 -0.170 0.492 0.272 0.876
Outcome
Training
0.7807 0.869 - 0.851 0.8759 0.7507 -0.196 0.254 0.093 0.212 0.884
objectives
Training
0.6104 0.813 - 0.762 0.8204 0.724 0.033 0.022 0.204 0.171 0.324 0.781
relevance
Source: Authors.
NOTES: satisfaction was 4.0100. The difference in expectation and
satisfaction from the trainer (-.05000) was found to be
1. Notes: T= Trainer, TC= Training Content, TF=
insignificant as T= -.573, p=.569, suggesting that
Training Feedback, TO=Training Outcome, TO=
expectations from trainer of respondents from Punjab were
Training Outcome, TR= Training relevance.
met. Similarly, the average expectation from the training
2. SD=Standard deviation, CR=composite reliability,
content from the respondents of Punjab was 3.8467and the
AVE=Average variance extracted
average satisfaction was 3.9267. The difference in
3. Off-diagonal values were inter-construct
expectation and satisfaction from the training content (-
correlations and on-diagonal values were AVEs.
.08000) was again found to be insignificant as T= -.768,
4. All correlations were significant at p <0.01.
p=.446, suggesting that expectations from training content
EVALUATION OF THE WORKFORCE’ of respondents from Punjab were again met. Also, the
EXPECTATIONS AND SATISFACTION ABOUT average expectation from the training outcome from the
THE TRAINING IMPARTED TO THEM respondents of Punjab was 3.8467 and the average
satisfaction was 3.8467. The difference in expectation and
The sample respondents were analyzed for their satisfaction from the training outcome (0.00000) was again
expectation and satisfaction about the Training factors. In found to be insignificant as T= 0.000, p=1.000, suggesting
order to know whether there was a significant difference
that expectations from training outcome of respondents
between expectation and satisfaction of employees of
from Punjab were met. Likewise, the average expectation
Tourism industry, paired sample t-test was applied on
from the training feedback from the respondents of
workforce of Punjab tourism industry.
Punjab was 3.9850 and the average satisfaction was 3.9850.
Ho: There is no significant difference between the The difference in expectation and satisfaction from the
workforce training expectations and satisfaction Punjab. training feedback (0.00000) was again found to be
insignificant as T= 0.000, p=1.000, suggesting that
H1: There is a significant difference between the workforce expectations from training feedback of respondents from
training expectations and satisfaction Punjab. Punjab were met. Again, the average expectation from the
The average expectation from the trainer from the training relevance from the respondents of Punjab was
respondents of Punjab was 3.9600 and the average 3.8067 and the average satisfaction was 3.8333. The
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difference in expectation and satisfaction from the training found to be insignificant as T= .101, p.920, suggesting that
relevance (-.02667) was again found to be insignificant as expectations from training objectives of respondents from
T= -.317, p=.752, suggesting that expectations from Punjab were met. The expectations of respondents from
training relevance of respondents from Punjab were met. Punjab were met for all the constructs (expectation from
Also, the average expectation from the training objectives trainer, training content, training outcome, training
from the respondents of Punjab was 3.8200 and the average feedback, training relevance and training objectives) as t-
satisfaction was 3.8100. The difference in expectation and test was insignificant for all of them.
satisfaction from the training objectives (.01000) was again
Table 3
Evaluation of the Workforce’ Expectations and Satisfaction about the Training imparted to them
(paired sample t-test)
Punjab Mean N Std. Deviation Std. Error Mean Mean Diff Std dev. Diff T df Sig.
Expectations from trainer 3.9600 50 .57446 .08124
Pair 1 -.05000 .61652 -.573 49 .569
Satisfaction from trainer 4.0100 50 .55549 .07856
Expectations from training
3.8467 50 .61798 .08740
content
Pair 2 -.08000 .73636 -.768 49 .446
Satisfaction from training
3.9267 50 .55242 .07812
content
3.8467 50 .61060 .08635
outcome
Pair 3 0.00000 .66326 0.000 49 1.000
3.8467 50 .58403 .08259
outcome
3.9850 50 .50611 .07157
feedback
Pair 4 0.00000 .63084 0.000 49 1.000
3.9850 50 .53788 .07607
feedback
3.8067 50 .53913 .07624
relevance
Pair 5 -.02667 .59415 -.317 49 .752
3.8333 50 .55635 .07868
relevance
3.8200 50 .67582 .09558
objectives
Pair 6 3.8100 50 .84449 .11943 .01000 .70342 .101 49 .920
objectives
3.7700 263 .69302 .04273
objectives
The above section evaluated the Workforce’ Expectations and satisfaction level of workforce. The importance of
and Satisfaction about the Training imparted to them. The these factors has been highlighted in the literature. This
analysis revealed that the expectations of respondents of the study revealed that no gaps exist between the workforce
state of Punjab were completely met. expectations and satisfaction from training programmes and
there is no effect of demographic factors on training
5. PRACTICAL IMPLICATIONS AND
expectations and satisfaction of workforce. The results
RECOMMENDATIONS
revealed that expectations of the workforce are fulfilled,
There is no gap found between expectation and satisfaction resulting in satisfaction from the training which further
level of workforce, indicating that quality trainings are influences the growth of the tourism industry. This research
organised by the department. Somehow the expectations of indicated that, still human resource practitioners in the
workforce might be low regarding various training factors Punjab tourism industry should aim at provide trainings in
analyzed in the study. This is of concern for human emerging tourism trends. This will not only upgrade the
resource practitioners who need to study the factors skill graph of workforce but also the productivity graph of
effecting workforce expectations and satisfaction towards the department because of the unique reason that trained
training session and to determine how training programmes workforce is the key to success for any organisation.
can be adapted to the needs of industry. This will directly
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ATTRIBUTES OF BUYING BEHAVIOUR FOR FASHION APPAREL: AN

EXPLORATORY STUDY
* **
Sunita Gupta Renu Yadav
*
Associate Professor. Department of Commerce, Daulat Ram College, University of Delhi
**
Assistant Professor, Department of Commerce, Daulat Ram College, University of Delhi
ABSTRACT
In this paper an attempt has been made to identify the factors affecting buying behaviour of the
consumers for fashion apparel in select tier-II cities of north India. With intent to achieve the objective
of measuring buying behaviour of women, exploratory factor analysis has been used. Before
undertaking the analysis, a pilot study was done followed by exploratory factor analysis. Data was
collected from 300 women respondents from two cities of Lucknow and Chandigarh, representing
generation X and Y, selected for conducting the present study. Exploratory Factor Analysis was
employed for analysis. The study concludes that consumer characteristics being the crucial attribute that
influences buying behaviour of women consumers followed by external factors , product attribute and
store characteristics.
Keywords: Fashion, Buying Behaviour, Consumer Characteristics, External Factors.
INTRODUCTION consumed by the public to enhance one's characteristics
(Miller-Spillman, 2005). Dimensions such as fashion
Fashion, in its embracing form, is a universal social
awareness, individual orientation, the orientation of state,
institution that builds a man as a whole. Fashion is a
opinion of style leadership, price orientation, and
universal principle in any civilization. It influences and
purchasing habits must be taken into account when we talk
modifies the human body and all modes of its expression
about the consumption of fashion apparel. Therefore, the
(Al-Halah, 2017).
purchase involves many dimensions and choices of
Apparel is considered to be an immense necessity of human consumers participate mostly in the purchase process. (Seo,
beings like food and shelter. Apparel plays a significant Hathcote & Sweaney 2001).
role in social and cultural functions. Modern researchers
India and Fashion
believe that apparel is a measure of identification and a
nonverbal mode of communication. There is scarcely any Statistics in fashion apparel have gained outstanding or
arena of human activity in which values and lifestyles are noteworthy attention among the people of India and abroad
reflected more deeply than in clothes one chooses to wear (Bakewell, Mitchell &Rothwell, 2006). McKinsey and
(Horn & Gurel, 1985; Rajput, 2012). Those people who Company have estimated a significant growth in the global
desire to rise beyond the average get a satisfactory outlet of fashion industry in 2019. Growth is projected to be between
their recognized apparel. By the apparel decisions, an 3.5% and 4.5%, marginally below the 2018 rate (Handa &
individual reveals the credence about oneself that he/she Khare, 2013). In India, one of the largest industries is
wants to represent about themselves. The values that are apparel and textiles, with a CAGR of 13.58% and is
reflected in apparel are related to specific clothing interests, anticipated to reach $250 billion by 2019 from$150 billion
choices, and behaviour in the selection and use of apparel. in July 2017. It shares 14% to industrial production and 4%
Researches show that our general values affect our specific to GDP of the country. It has been one of the nation‟s main
apparel decisions/choices. According to Taylor and sources of jobs for more than 45 million people (Indian
Cosenza (2002), if the aesthetic benefits are high, then the Brand Equity Foundation Report, 2017-18). Role of Gender
apparel will be picked for its attractiveness of line, beauty in Fashion
in fabric, or personally satisfying dress. If the economic
In the prevailing scenario, the decision-making process is
values are high, apparel purchases may reveal the utility,
hugely stimulated by the gender divergence in generations.
quality, and price as most important: or the clothes selected
Men and women have unique measurements regarding the
may make a judgment of the financial statement (Dillon et
components of the products that they plan to purchase
al., 1993).
(Banyte, Paunksniene, &Rutelione, 2007). Past researches
LITERATURE REVIEW suggest that gender exposure has a moderate effect on the
purchase decisions of consumers. Men and women have
Fashion apparel- a self-expression measure
different resolutions, and state of mind for apparels and
Fashion apparel enlightens the personality and self-esteem diverse characteristics of the attires sway their purchase
of an individual, so the fashion outfits are used and mainly choices. Women are most fascinated by apparel and deeply
involved in fashion apparel as compared to men (McCraken
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& Roth, 1989). The social turn of mind amongst men and and layout of the store, the exchange scheme, and
women also creates behavioral contrasts and effects reimbursement, the company's reputation, staff co-
choices. Shopping, for women, is fun and enjoyments operation, etc., were also equally important for the
which includes friends and family and is of higher customers (Birtwistle & Freathy 1998). Many past studies
significance in comparison with men (Ogletree et al., have recognized a variant bunch of store characteristics. A
1990).Women are quite sensible and aware of the forms lot of such elements have been discovered and calculated
than their partners and show enormous investment in the by many researchers. Besides, to determine the store
purchase of apparel (Handa & Khare, 2013). They are also features, past researches have tended to understand the
deeply involved in exploring product information and magnitude to which such characteristics can affect the
spend time in different stores of the product to analyze choice in store of the customer. Bearden (1977) stated that
before making a final purchase decision. the “atmosphere”, “locality”, “parking”, and “friendly
nature” of people and sales executive affected the choice of
Characteristics of Fashion
store for the customer. External Factors
Past researches in the fashion context have gone through
For information collection, consumers make use of social
the concepts of “self-congruity” (Das, 2015); “co-
and informal resources. This phenomenon of consumers,
branding” (Wu & Chalip, 2014);“collective self-
seeking information regarding products and services was
esteem”;“interpersonal influence” (Handa & Khare, 2013),
realized to be an essential aspect of consumers‟ behavior
“brand personality” and “word of mouth” (Ismail &
(Zaltman, 1965). Therefore, the widely observed consumer
Spinelli, 2012) and “cosmopolitanism in fashion apparel
behavior is known as social communication, opinion
involvement” (Khare, 2014). However, not a single in the
seeking, or buzz. One of the significant issues in the
above studies have gone through the impact of different
information seeking literature is the deficiency of a
characteristics or factors on the buying behavior of the
consistent definition of what behaviors the consumer
consumers for the fashion apparel status. The current study
information research constitutes. Past studies highlight the
has shortlisted various factors to study the buying behavior
variants of informational sources from which information
of women for fashion apparel. These characteristics/ factors
was looked for (retailers, kinds of advertisements,
are illustrated below:
interpersonal sources), the amount and variety of
Product characteristics information gathered, time parameter in seeking the
information, the number of brands for which information
Product characteristics can be defined as the building
was sought and how information was sought (Engel et al.,
blocks of the product prospectus that describes the features
1968). This aspect of the current research is evaluated by
or characteristics of the given product. Product the impact of family and friends, past experience, the
characteristics are the features like price; quality; design; Internet, and TV/Magazines.
style. These characteristics can be tangible or intangible.
Hence, product characteristics are the basis on which the Consumer Characteristics
customers‟ build up a purchase decision. A consumer may
The consumer characteristics approach appeared to be
compare the characteristics of the product against their
effective and as it cantered mostly on the psychological
needs and wants and then make the selection of the product
inclination of customers in decision-making. These are
according to what matches of her needs and wants
consumer traits such as engagement, fashion and brand
(Michaelidou & Dibb, 2006). Product characteristics
awareness, loyalty, sentiments, which vary from customer
include length, breadth, consistency, size, style, packaging,
to customer and have an impact on the purchasing
function, etc. that affect consumer purchase behavior.
behaviour of apparel. In the present research, this
Kwan et al. (2004) identified five factors in clothing choice dimension is evaluated in terms of “fashion consciousness”,
criteria viz. “named product and self-image related “store image”, “impulsive buying behaviour”, “frequent
criteria”;“style and quality related criteria”;“durability and shoppers”, “brand loyalty”, and “preference to try to buy
natural care”;“fit and sex appropriateness”; and before purchase”.
“price”.Beaudoin et al. (2000) identified twelve variables
In literature, two types of influences on consumer, namely:
that affect the purchase decision of consumer viz: good fit,
external and internal influences. External influences on
price, durability, comfort, color, fashion, the stability of
consumer behaviour comprise demographics, economic,
occasion, brand, easy care, attractiveness and choices of
social, situational, and technical factors. Internal factors,
style.
like attitudes and beliefs, learning, motivations and needs,
Store Characteristics personality, are involved. While external factors have a
significant impact on the actions of consumers, internal
Store Characteristics include store
factors are no less important (Keegan et al., 1992).
atmosphere and amenities, store-provided services, store
format, etc. that impact customer clothing buying OBJECTIVES OF THE STUDY
behaviour (Gurunathan, 2013). Retail outlets play a
 To identify the attributes that affects that buying
significant part in affecting both store and manufacturer
behaviour of the consumers.
brand‟s customers. The characteristics such as the design
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RESEARCH METHODOLOGY ANALYSIS AND FINDINGS
In this study for the purpose of data collection, The sample comprised of two age groups i.e. 22-36 (Gen
questionnaire method was used. A sample of 300 women Y) and 37-49 (Gen X). 53.7 % of the samples were in the
was collected. The sample includes generation X and age group of 22-36 years, and 46.3% in the age group of
generation Y. Age group considered for the study was 22- 37-49 years. The sample comprised of respondents from
49. Geographical area considered for the study was tier II different job-profile such as self-employed/business 17.3%,
cities of north India. These two cities are Lucknow and paid employment 33.7%, homemaker 20%, and student
Chandigarh. For the analysis of data, exploratory factor 29%. 38.7% of the respondents were single and 61.3% of
analysis was used to explore the factors/attributes of buying the respondents were married. The sample was also
behaviour from the sample. Before applying factor separated with respect to education: 1.7% had a senior
analysis, reliability test was applied on the instrument. secondary level, 21.7% were undergraduate, 56% were
Overall reliability value (Cronbach Alpha) of the postgraduate and 20.7% had a doctoral degree. In relations
questionnaire is 0.883 which is greater than the acceptable to income, a maximum number of respondents (34.7%) lies
limit. in the category of 50001-100000 followed by more than
200001 (25.3%), 100001-200000 (23.3%) and less than
50000 (16.7%).
Table 1: KMO and Bartlett’s Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .912
Approx. Chi-Square 5994.036
Bartlett's Test of Sphericity Df 210
Sig. .000
EFA helps in identifying the underlying structure among Kaiser and Rice (1996). This value shows that the sample is
the 21 variables in the analysis (Hair et al., 2010). Kaiser- adequate for factor analysis. The value of Bartlett's test of
Meyer-Olkin (KMO) measures the adequacy of data for Sphericity was significant at 0.000, which is less than the
factor analysis, and the KMO came out to be 0.912, which cut-off limit of 0.05, which means that the factors extracted
is higher than the acceptable limit of 0.6 as suggested by from the variables are highly correlated
.Table 2: Variance Explained by the Factors
S.No. Factor Variable Eigen Value %age of variance Cumulative percentage

F1 Store Attribute Service by staff 7.178 34.182 34.182
Membership benefits
Physical Facility
Post-transaction service
Variety
F2 Product Attribute Durability 4.254 20.256 54.438
Quality
Style
Fit
Price
F3 External Factors Influence of family/friends 3.262 15.533 69.971
Celebrity influence
Past experience
TV/Magazines
Internet
F4 Consumer Fashion Consciousness 2.204 10.493 80.464
Characteristics
Preference to wear and try before use
Impulse Buying Behaviour
Store Image
Frequent Shoppers
Brand Loyalty
Through factor analysis, we have extracted four factors out explained percentage was considered as a significant
of twenty one variables. In other words, we have representation of the data. All the four factors have the
transformed twenty one variables into four representative eigenvalue more than 1. Scree plot explaining the structure
factors. These three factors explain 82.464 percent of the of the different attribute in graphical form (figure 1).
total variance. According to Pett et al., (2003), this
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Figure 1: Scree Plot of Different Attributes
Table 3: Factor Mining Results of Buying Behaviour

S. No. Factors Mean Std. Dev. Factor loading* Alpha*** KMO****
1. Service by staff 5.84 1.375 .786 .931 .897
2. Membership benefits 5.64 1.284 .751
3. Physical Facility 5.68 1.287 .776
4. Post transaction service 5.62 1.317 .810
5. Variety 6.20 1.391 .820
6. Durability 6.23 1.010 .780 .896 .876
7. Quality 6.55 .919 .706
8. Style 6.35 1.035 .741
9. Fit 6.42 .973 .639
10 Price 6.27 1.019 .892
11. Influence of family and friends 4.96 1.874 .881 .970 .915
12. Celebrity influence 4.63 2.039 .913
13. Past experience 4.89 1.943 .891
14. TV/Magazines 4.67 1.953 .913
15. Internet 4.88 2.009 .890
16. Fashion Consciousness 5.37 1.561 .813 .961 .942
17. Preference to wear and try before use 5.73 1.581 .823
18. Impulse Buying Behaviour 5.34 1.521 .821
19. Store Image 5.45 1.601 .826
20. Frequent Shoppers 5.35 1.559 .822
21. Brand Loyalty 5.64 1.659 .803
Table 3 represents the factor mining results which were factors for the women buyers. Mean, and the standard
extracted through exploratory factor analysis. The KMO deviation is descriptive statistics that represent the values in
value of four factors were is 0.897, 0.876, 0.915, 0.943 the data and variability or deviation in the data set. Mean
respectively, which is higher than the significant limit of values of the variables above 5 represent a high level of
0.5. The reliability value of the factors are 0.931, 0.896, attention towards the positive side of the responses, while
0.970, 0.961 which are also above the cut-off limit of 0.5. standard deviation ranging between 1-2 shows that the data
Items which had factor loading less than 0.5 were removed. set is concentrated towards the mean (Shao, 2002). Table 3
All the variables have factors loading more the significant depicts the mean score and standard deviation for the
limit of 0.5. Factor loading shows that among store different attributes of buying behaviour. The overall mean
attribute variety (0.820) was the most important factor score ranges from 5.62 to 6.20 for store attribute, 6.23 to
followed by post-transaction service (0.810), service by 6.55 for product attribute, 4.63 to 4.96 for external factors,
staff (0.786), physical facility (0.776), and membership and 5.34 to 5.73 for consumer characteristics on a Likert
benefits (0.751). Just like store attribute, from product scale of 1 (strongly disagree) to 7 (strongly agree). All the
attribute, it was revealed that price (0.892) was very values are presented in Table 3.
important variable for consumers. Form external factors
TV/magazines (0.897) and store image (0.833) from
consumer characteristics were taken as the important
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CONCLUSION 11. Engel, J.F., Blackwell, R.D. & Miniard, P.W. (1993) in Miniard,
P.W. (Ed.), Consumer Behavior, 7th ed., Dryden Press, Chicago,
This study expands the knowledge of fashion apparel IL. Erickson, G.M., Johans
research and has several implications for designers, 12. Gurunathan, K. B., & Krishnakumar, M. (2013). Factors
manufacturers, retailers, and apparel and textile specialists. influencing apparel buying behaviour in India: A Measurement
The study showed that there are different factors which Model. Paripex-Indian journal of research, 2(3).
have an impact on the buying behaviour of the consumers 13. Hair, J. F., Anderson, R. E., Babin, B. J., & Black, W. C. (2010).
for fashion apparel. This study provides a base to the Multivariate data analysis: A global perspective (Vol. 7).
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Consumer characteristics and external factors came out to relationship between materialism and fashion clothing
be critical factors that influence buying behaviour of the involvement among Indian youth. International Journal of
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18. Khare, A. (2014). How cosmopolitan are Indian consumers?: a
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19. Kwan, C. Y., Yeung, K. W., & Au, K. F. (2004). Decision-
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A REVIEW ON PREDICTING STUDENT’S GRADE USING MACHINE
LEARNING TECHNIQUES
* **
Sourav Kumar Tanwar Mubashir Farooq
*
Research Scholar, Department of Computer Science and Engineering, Lovely Professional
University,
**
Assistant Professor, Department of Computer Science and Engineering, Lovely Professional
University.
ABSTRACT
Predicting student grade with precision for future course plays very crucial role in their development
and more importantly it can help student in improving their academic result and also these prediction
model can help teachers to figure it out the low achiever in their subject, so that they can give some kind
of remediation to help improve their result. In this study, several papers were analysed with respect to
what kind of models they were using and on what kind of data they are implementing and also how
diverse their attributes whether they are focusing on academic related data only or considering the extra
co-curricular activities and their family background to predict the students’ grade, as nowadays multiple
factors need to take into consideration as these factors may drastically impact on the students’ academic
performance, so that a model can predict the student’s grade more accurately and can benefit the
educators to plan the strategy to help the student to perform better.
KEYWORDS:Prediction, machine learning, grade, decision tree, naïve Bayes
INTRODUCTION minimum variance within a node. After that decision rules
were generated with the help of the tree for predicting
In present situation, there is a great need to analyse and
student grades. And at last it wasobserved that the overall
predict the academic performance to be able to classify
prediction accuracy achieved by the CHAID was 44.69%
students based on their performance and to find out the set
[1].
of student who may not be able to do well in their
examinations and also the set of student who can perform Researcher designed a prediction model for a particular
well in the examination, as it will help teachers to plan their course of distance learning in Hellenic Open University.
teaching methodology accordingly to give most out of their The Data were collected from two different sources, the
knowledge to the student and subsequently it will increase records of the tutors and the Students’ Registry of the HOU
the overall performance in academics of the class as a and for this project data of 510 students were taken.
whole.In past few years several studies have been carried Predictions were computed on the actual marks obtained in
out to find the best and suitable approach to have a great written assignments, their background and teachers
prediction model by using different machine learning remarks. For this prediction the algorithms used are
algorithms such as decision tree, Bayesian Network, Sequential Minimal Optimization, Back Propagation, C4.5,
Support vector machines(SVM) [2][3][6][7]etc. and for that 3-Nearest Neighbourhood andNaïve Bayesian Network. In
many outcome and inferences has been drawn from those the result it was found that the best suitable algorithm is the
studies. In this review paper we are going to thoroughly Naïve Bayes (72.55%), followed by the Sequential
analyse the different studies that had been already carried Minimal Optimization (72.03%), the 3-NN (70.77%) and
out over the past few years by different people on different finally the C4.5 (69.79%). The NBN algorithm generates
datasets and different conditions. the best results (accuracy 72.48%) [2].
LITERATURE SURVEY Carried out a research in which they have predicted the
student performance with the help of five machine learning
The authors implemented a model for studentsin Tamil
algorithms that is Support Vector Machines, Decision
Nadu to discover the elements contributing to the poor
Trees,Artificial Neural Networks, andBayesian Networks.
performance in the senior secondary exam. For the data
They collected the data of students majoring in Computer
they arranged the questionnaire that includes their family
science in multiple colleges in Kolkata and the training data
background, their habits and marks in examination etc. and
contains 309 entries whereas testing data contains 104
accordingly a data collection of 772 students obtained from
entries .Their main objective is to identify the attributes and
school offices and regular students, and subsequently used
examination pattern of students majoring computer science.
for the prediction model i.e. CHAID. The CHAID tree is
After training with those five algorithms they calculated the
constructed with the fact that there should be maximum
F-measure, kappa statistic and also calculated the paired t-
variance between two nodes in the same layer and
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test for both the statistics. And found that C4.5 performs ML Algorithm produces the data model containing graphs,
better and accordingly defined the rules for C4.5. And after charts of the student’s performance and give suggestion for
their detailed analysis they found decision Tree the most the improvement. This model is a variant which means it
convenient algorithm with the training accuracy of 79% takes only one variation but can be extended as a
and 66% for testing [3]. multivariate model by adding multiple parameters to get
accurate results. This research use four types of factors
The authors’ main objective is to analyse the performance
namely student’s contributions, family income, student
of students of k-12 class which will help the educators to
personal details and past marks. It also complies with the
know the poor performers, so that the focus can be given to
subset selection process to obtain the most effective
them. For this purpose predictive models were developed
indicators for predicting student performance [7].
using three classifiers, namely,Naive Bayes, decision tree
and linear regression. In this project the data collected is An effort was made to determine the impact of our
from the website of Massachusetts Department of proposed features on predicting student performance of
Elementary and Secondary Education. And they have 403 productive and selective separation models. Feature space
entries with 27 variables or features in that data so they is created by looking at family features expenses, family
have done feature selection with the help of correlation income, personal details, and family property of students.
matrix, and trained with the mentioned three classifiers. The SVM separator is found to work with our proposed
And at the end they conclude that out of those three Naïve family finance features and student personal information
Bayes classification gives the better prediction with about categories. It can be concluded with the results that family
60 % accuracy [4]. spending and personal information has a significant impact
on student performance due to the precise reasons given in
The author addressed, the problem of recognising students
the interviews [8].
who are not doing well in the course of Computer science,
four Class models are designed to predict student The researchers used the classification technique to predict
performance. Many factors affect the accuracy of the the performance of the engineering student in their final
results obtained after using the algorithms. These items exam. The basic idea of the project to collect the data of
include refined data, feature domain, number of features, student from the VBS Purvanchal University, Jaunpur
database size and last phase domain. Database size also (Uttar Pradesh) and apply the different types of decision
affected accuracy. Accuracy increased as size increased. tree algorithm to the data having 14 attributes. They used
Four machines learning strategies, Decision tree, artificial three decision tree algorithm that is ID3 (Iterative
neural network Logistic Regression and Naïve Bayes used. Dichotomiser 3), C4.5, and CART, after applying all the
ROC index and their classification accuracy have been used technique we came to know that C4.5 perform better with
to compare the models. ANN model has a very high ROC the correctly classified instance of 67.77% and incorrectly
index of 0.807 and an accuracy of 77.04 [5]. classify instance of 32.22%. C4.5 model identified which
student likely to fail the exam. Therefore the C4.5 decision
Researchers used various sources of information, such as
tree is an effective predictive model [9].
traditional databases and multimedia, are often available at
educational institutions. These resources help The authors main objective was to use data mining
administrators obtain information, predict class time methodologies to study students’ performance in the
enrolment, and help students decide how to choose subjects courses. The data is taken of 40 students who is studying a
based on prediction. Machine learning strategies in master in computer application having the 7 attributes like
educational data the mines aim to create a model to find PSM, CTG, SEM, ASS, ATT, LW, and ETT. In this
hidden patterns. The proposed model predicts student project, they use a decision tree algorithm to predict student
performance. The model was trained, and the data was performance and use three different types of decision trees
tested with student data in two semesters using algorithms that are ID3 (Iterative Dichotomise 3), C4.5, and CART.
for learning of various machines, such as Decision Tree, The entire decision tree applied to the data and the result
NB, and Logistic Regression. The performance of all was unexpected that the CART decision tree performs
algorithms was tested to predict two groups of complete better than the other two decision tree having an accuracy
and very accurate results were obtained. The exact final of 56.25%. [10].
grade and the estimated student status are determined by
The authors have predicted the student performance of the
the Logistic Regression, with an accuracy of 68.7% and
Post Graduate program with the help of K-Means
88.8% [6].
(Clustering) and Support Vector Machine (Classification)
The authors have developed a line-based model that will algorithm having the data size of 100 students. They
help students to know the final grade in a particular subject. implemented the rules that are defined in the SVM
The information has been gathered utilizing research given algorithm to predict the final grades of student. The output
by students and a grade book. The subsequent stage was of the modelswere compared with the original data, the
preparing information for breaking down and naming. SVM result with 96.7% of accuracy because in its training
Third stage coordinates the information of second stage phase it is very slow but the accuracy was very high [11].
into the AI calculation. AI Algorithm makes a model
utilizing dependent on the handled information. At last, the
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The main objective of this project is to remove the risk weighed voting approach, it also outperforms as compare to
associated with the credit product. It distinguishes the conventional feature selection methods [12].
effect of various applicant characteristics on the basis of
The study shows that the previous marks of a student can
their behaviour as criminal or default using the historical
be used to make a prediction model using the Decision tree
data of the customer. For this, we used Weighted Voting
algorithm (DT), which can be used to predict the final
and Cluster-based Feature Selection model on which we
grade of a High School Student. The accuracy of the model
applied three real-world credit scoring datasets as Japanese
is 84.53% which means that the model successfully
dataset, Australian dataset, and German dataset on this
predicts the final grade of students. There were 1,500
model to predict the risk. It was noted that the proposed
students of whom 1268 were successfully classified. It
feature selection approach on the dataset has improved the
suggested that the teacher, student and their parents could
accuracy of five classifiers namely decision tree, MLFN,
improve the student's result of the lower grades with
RBFN, NB and PNN when compared to conventional
appropriate student counselling [13].
feature selection methods and with all the features. With
TABLE I
COMPARISON OF RELATED WORKS
ACURRACY EXPERIMENT
S.NO PAPER ALGORITHM USED SAMPLE SIZE
OF MODEL APPLIED
Higher Secondary
1 Ramaswami, M. and Bhaskaran, R.[1]. CHAID 772 44.69%
Schools, Tamil Nadu
Kotsiantis, S., Piarrekeas, C. and Hellenic open
2 C4.5,NBN 510 72.48%
Pintelas, P.[2]. University
Under graduate
C4.5, SMO, NB, 1- 309 training 79% training
3 Acharya, A. and Sinha, D. [3]. students of Computer
NN,MLP 104 testing 66% testing
Science, Kolkata
DT, NB, Linear Massachusetts Public
4 Harvey, J.L. and Kumar, S.A.P. [4]. 403 60%
Regression School
ANN, Logistic
Altabrawee, H., Ali, O.A.J. and Ajmi, Al- Muthanna
5 Regression, Naïve Bayes, 161 77.04%
S.Q.[5]. University
Decision Tree
DT, NB, Logistic
Hashim, A.S., Awadh,W.A. and
6 Regression, SVM, SMO, 499 66% University of Basrara
Hamoud, A.K. [6].
Neural Network
Daud, A., Aljohani, N.R., Abbasi, R.A.,
SVM, C4.5, CART, BN,
7 Lytras, M.D., Abbas, F. and Alowibdi, 690 86% University of Pakistan
NB
J.S. [8].
VBS Purvanchal
8 Yadav, S.K. and Pal, S.[9]. ID3, C4.5, CART 90 67.77%
University, UP
Yadav, S.K., Bharadwaj, B. and Pal, S. VBS Purvanchal
9 ID3, C4.5, CART 40 56.25%
[10]. University, UP
Eashwar, K., Venkatesan, R. and Students of post-
10 K-mean, SVM 100 96.5%
Ganesh, D. [11]. graduation
Japanese 690,
Tripathi, D., Edla, D.R., Kuppili, V., Weighted voting , Japanese, Australian,
11 Australian 1000, 87.98%
Bablani, A. and Dharavath, R.[12]. Clustering German customers
German 690
Federal Board of
Khan, B., Khiyal, M.S.H. and Khattak, Intermediate &
12 Decision Tree 1500 84.53%
M.D.[13]. Secondary Education),
Pakistan
CONCLUSION papers could be improved on several accounts. Several

students took admission in a particular course, and appear
The aim of this paper is to review and learn from different
in the mid semester exams but due to some reason they do
papers available online and compare them to find out the
not appear for the term end exams. These students are not
shortcomings of different models used to predict final
considered for prediction as they contain missing attribute.
marks/grades of a student based on his past record and his
Finally, the efficiency of models can be increased by using
behaviour. These projects mentioned above used different
a large enough dataset and Combining different model and
Machine learning model like Support vector machine
Classifiers.
(SVM), Multilayer Perceptron (MLP), Decision tree and
Bayesian neural Network. After observing performanceof REFERENCES
different classifications it is found that the training 1. Ramaswami, M. and Bhaskaran, R. (2010), “A CHAID Based
algorithm Decision tree is an excellent generalizer since it Performance Prediction Model in Educational Data Mining”,
manages to exhibit the highest generalization performance. International Journal of Computer Science Issues, Vol. 7 No. 1,
The Research methodology used proposed in different pp.10-18.
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2. Kotsiantis, S., Piarrekeas, C. and Pintelas, P. (2007), “Predicting
Students’ performance in Distance Learning using Machine
Learning Techniques”, Applied Artificial Intelligence, Vol. 18
No. 5, pp. 411-426.
3. Acharya, A. and Sinha, D. (2014), “Early Prediction of Students
Performance using Machine Learning Techniques”, International
Journal of Computer Applications, Vol.107 No.1, pp. 37–43.
4. Harvey, J.L. and Kumar, S.A.P. (2019), "A Practical Model for
Educators to Predict Student Performance in K-12 Education
using Machine Learning", 2019 IEEE Symposium Series on
Computational Intelligence (SSCI), pp. 3004-3011.
5. Altabrawee, H., Ali, O.A.J. and Ajmi, S.Q.(2019), “Predicting
Students’ Performance Using Machine Learning Techniques”.
Journal of University of Babylon for Pure and Applied Sciences,
Vol. 27 No.1, pp. 194-205.
6. Hashim, A.S., Awadh,W.A. and Hamoud, A.K. (2020), “Student
Performance Prediction Model based on Supervised Machine
Learning Algorithms”,IOP Conference Series: Materials Science
and Engineering, Vol. 928 No. 3, pp. 032019.
7. Gadhavi, M. and Patel, C.M.(2017),"Student final grade
prediction based on linear regression", Indian J. Comput. Sci.
Eng., Vol. 8 No. 3, pp. 274-279.
8. Daud, A., Aljohani, N.R.,Abbasi, R.A., Lytras, M.D., Abbas, F.
and Alowibdi, J.S. (2017), “Predicting student performance
using advanced learning analytics,” in Proceedings of the
26th International Conference on World Wide Web Companion
- WWW ’17 Companion, pp. 415-421.
9. Yadav, S.K. and Pal, S.(2012), “Data mining: A prediction for
performance improvement of engineering students using
classification,” World of Computer Science and Information
Technology Journal WCSIT, Vol. 2 No. 2, pp. 51-56.
10. Yadav, S.K., Bharadwaj, B. and Pal, S. (2012), “Data mining
applications: A comparative study for predicting student’s
performance,” International Journal of Innovative Technology and
Creative Engineering, Vol.1 No.12, pp. 13-19.
11. Eashwar, K., Venkatesan, R. and Ganesh, D. (2017), “Student
performance prediction using svm,” International Journal of
Mechanical Engineering and Technology, Vol. 8 No. 11, pp. 649–
662.
12. Tripathi, D., Edla, D.R., Kuppili, V., Bablani, A. and Dharavath,
R. (2018), “Credit scoring model based on weighted voting and
cluster based feature selection,” Procedia computer science, Vol.
132, pp. 22–31.
13. Khan, B., Khiyal, M.S.H. and Khattak, M.D. (2015), "Final grade
prediction of secondary school student using decision tree",
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36.
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A STUDY ON IMPACT OF GLOBAL STOCK MARKET INDICES ON INDIAN
STOCK MARKET INDICES
* **
N. Venkatesh Kumar M. Ganesh Babu
*
Research Scholar, Rajagiri Dawood Batcha College of Arts &Science, Affiliated to Bharathidasan
University, PG & Research Department of Management, Papanasam, Thanjavur District,
Tamilnadu.
**
Research Supervisor, Rajagiri Dawood Batcha College of Arts & Science, Affiliated to
Bharathidasan University, PG & Research Department of Management, Papanasam, Thanjavur
District, Tamilnadu.
ABSTRACT
This study aimed to examine the impact of selected Global stock market indices such as NASDAQ
Composite index, Dow Jones Industrial average, Hang Seng Index and NIKKEI 225 on the performance
of selected Indian stock market indices such as S&P BSE SENSEX and NSE NIFTY during the year
2019 by considering 240 consecutive trading days’ index value.Statistical examinations such as
normality of daily returns, homogeneity of average return, correlation and causation have been used.
During the study period, the daily returns of selected Global stock market indices and Indian stock
market indices were non-normal and the average return remained equal. Statistically insignificant
correlation between selected Global stock market indices and Indian stock market indices except Hang
Seng Index.Systematic risk exposure pertaining to Indian stock market indices from selected Global
stock market indices were found to be statistically insignificant except Hang Seng Index. In nutshell, the
selected Global stock market indices have had less impact during the study period.
Keywords:Stock Market, Global Indices, Investment,Normality, Causation
I. INTRODUCTION II. LITERATURE REVIEW
Stock markets play a pivotal role to mobilise investible Khan et al. (2005) attempted to study the linkages between
resources for all the verticals of the industry. In India, the developed stock markets namely NASDAQ, NIKKEI and
landscape of stock market investments have undergone Indian stock markets such as NIFTY and SENSEX during
massive transformation over the last two decades. The January 1999 to August 2004. The study showed that there
extant literature prominently acknowledges the Indian stock were no long-term relationship between Indian stock
markets as the most sought after destination by the foreign markets and selected global indices. They concluded that
investors. The BSE Limited, formerly known as Bombay while markets had no tendency to go together in the long-
Stock Exchange Limited is one of the very oldest stock term and as an impact, the causal effects become weak in
exchange in the world and National Stock Exchange of the short-run.
India is well-known for its application of advanced
Mukherjee (2007) chose to study the integration of Indian
technology. After 1990s, on account of major revamp of
stock markets with New York Stock Exchange, Hong Kong
economic regulations and ease of doing business in India,
Stock Exchange, Tokyo Stock Exchange, Korean Stock
stock market investments have seen exponential growth
Exchange and Russian Stock Exchange from the
including enhanced inflow foreign investment.In terms of
perspective of social, political and economiccontexts. They
world output, India has accounted 7.1% under emerging
concluded that the Indian stock markets had started to
market and developing economies which is highest as
integrate after 2002-03.
compared to other emerging market and developing
economies (Source: Securities Exchange Board of India‟s Menon et al. (2009) contemplated that the real market
2018-19 Annual report).At this juncture, the major concern situations tend to showcase in the market movements
of the investors‟ especially foreign investorsis that whether nationally and internationally. They had analysed the link
investment in Indian stock markets will provide the benefits between Indian stock markets and stock markets from
of diversification catering to their investment objective? Hong Kong, US, China and Singapore. They found that
Hence, examining the linkages between the Indian stock Indian stock markets were related to some selected stock
markets and Global stock markets are pertinent. markets during the study period.
Chittedi (2010) focused to study the integration of BRIC
stock markets and examined their integration with other
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developed economies such as US, Japan and UK for the stock market integration. They found that there were
period between January 1998 and August 2009. The substantial integration between domestic and international
outcomes of the research showed that BRIC stock markets financial markets.
were cointegrated with developed economies stock markets
Mensi et al. (2014) analysed dependence structure between
during the study period and the study inferred that these
the emerging markets of the BRICS countries and most
markets share the forces of short run adjustment to long run
influential global factors using the quantile regression
equilibrium.
approach for the period between September 1997 and
Tripathi & Sethi (2010)studied the integration of the September 2013.They found that the BRICS stock markets
Indian stock market with global stock markets such as had shown dependence with global commodity and stock
China, Japan, United Kingdom, and US from 1998 until markets such as Gold, Oil and S&P Index. They also found
2008. Their study had shown that the Indian stock markets that the dependence structure was skewed and this
have not integrated with any of these markets except asymmetry perhaps attributed to financial crisis across the
United States and found unidirectional causality in most globe.
cases.
Nasser & Hajilee (2016) chose to examine five emerging
Singh & Singh (2010) examined the extent of integration stock markets namely China, Turkey, Russia, Mexico and
of two leading emerging economies with other developed Brazil and other developed markets namely Germany, US
markets during January 2000 to December 2009. They and UK during January 2001 to December 2014 using
found that the Indian and Chinese stock markets were cointegration and error-correction model. They found
correlated with all the four selected developed markets and existence of short-run integration amongst stock markets in
exhibited unilateral causality. They suggested that there developed countries and stock markets in the emerging
were no scope for either speculative strategies or short-term countries.
diversification in these markets.
III. OBJECTIVES, DATA AND
Lao & Singh (2011) aimed to analyse the existence of
METHODOLOGICAL FRAMEWORK
herding behaviour and its challenges in the pretext
pertaining to efficient market hypothesis considering the 3.1 OBJECTIVES OF THE STUDY
Chinese and Indian stock markets. The suggested that the
The primary objective of the study is to examine the impact
herding behaviour exists in both markets during the study
of selected Global stock indices such as NASDAQ
period. The herding behaviour was more prevalent while
there was bear market and the trading volume was high in Composite Index, Dow Jones Industrial Average, NIKKEI
Chinese stock market as compared to Indian stock market. 225 and Hang Seng Index on Indian broad based stock
indices such as S&P BSE SENSEXand NSE NIFTY.
In contrary to Chinese stock market, Indian stock market
had exhibited the herding behaviour when the market was 3.2 DATA
moving upward.
In order to examine the impact of selected Global stock
Srikanth & Aparna (2012) examined the degree of stock indices on Indian stock indices, the daily index values
market integration considering the monthly average prices spanning for 240 trading days during the year 2019 have
pertaining to BSE-Sensex, NYSE, NASDAQ, Hang Seng, been obtained from the respective indices website. The
Nikkei225, S&P 500, SSE Composite index and FTSE100. selected indices and their codes are as follows:
They have used Correlation t-test to analyse the intensity of
S. No. Name of the Index Country Index Code
1 S&P BSE SENSEX India BSESN
2 NSE NIFTY India NSEI
3 NASDAQ Composite Index USA IXIC
4 Dow Jones Industrial Average USA DJI
5 Hang Seng Index Hong Kong HSI
6 NIKKEI 225 Index Japan N225
3.3 METHODOLOGICAL FRAMEWORK AND  Pt and Pt-1 are the daily current period’s index value
HYPOTHESES and previous period’s index value respectively
Step 1: To ascertain the daily return pertaining to the The daily return of respective indices is analysed for its
respective indices, the following function has been used. symmetrical distribution using the following tests to
examine the hypothesis.
( ) [ ] ( )
H0: The daily return follows normal distribution.
H1: The daily return does not follow normal distribution. Indian stock market indices, Kruskal-Wallis „H‟ test is used
to test the following hypothesis.
Step 2: To analyse the homogeneity of average
performance of the selected global stock market indices and
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H0: Mean performance of Indian stock market indices and applied.Following hypothesis is set to examine the degree
Global stock market indices are same during the study of relationship.
period.
H0: There is no significant correlation between the selected
H1:Mean performance of Indian stock market indices and indices.
Global stock market indices are significantly different
H1: There is a significant correlation between the selected
during the study period.
indices.
Step 3: To examine the degree of relationship between the
Step 4: To examine the causalitybetween the Global stock
selected Indian stock indices and Global stock indices, Karl
indices and Indian stock indices, 2 stages of regression
Pearson‟s correlation coefficient has been
analysis is used. The notions and hypotheses are iterated
below.
̂ ( )
̂ ( )
̂ ( )
̂ ( )
̂ ( )
̂ ( )
̂ ( )
̂ ( )
̂ ( )
̂ ( )
Where ‘α’ - constant term, ‘β’ - exposure term and ‘et’ - H1: There is a significant exposure from global stock
white noise error. market indices.
H0: There is no significant exposure from global stock H0: Residuals do not contain autocorrelation.
market indices.
H1: Residuals contain autocorrelation
.
IV. RESULTS AND DISCUSSIONS
Table 1: Results of descriptive statistics and normality tests
Daily Return Normality tests

Index
(Min, Max) K-S Shapiro-Wilk Jarque-Bera
BSESN 0.05 (-2.08, 5.19) 0.06**0.019 0.94***0.000 364.62***0.000
NSEI 0.05 (-2.16, 5.18) 0.06**0.032 0.94***0.000 343.62***0.000
IXIC 0.11 (-3.54, 4.17) 0.08***0.002 0.96***0.000 62.74***0.000
DJI 0.08 (-3.09, 3.24) 0.09***0.000 0.95***0.000 108.76***0.000
HSI 0.05 (-2.94, 3.83) 0.06**0.041 0.98***0.003 14.89***0.001
N225 0.08 (-3.05, 2.58) 0.07**0.013 0.98***0.001 14.69***0.001
*** 0.01, ** 0.05, * 0.1 Level of Significance
It is seen from Table 1 that the daily average return ranges during study period. Since all the selected indices have
between 0.05% and 0.11% during the study period. exhibited the same trend, it is immensely relevant to
NASDAQ Composite Index has yielded maximum daily examine whether across markets the daily average return
average as compared to other indices. The study showed remains same or they significantly differ. The results the
that all the selected global stock market indices and Indian homogeneity of average daily return across the indices are
stock market indices did not follow normal distribution explained in Table 2.
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Table 2: Results of Kruskal-Wallis ‘H’ test
Hypothesis Test statistic value Decision
H0: µBSESN=µNSEI=µIXIC=µHSI= µDJI=µN225
0.491 Do not reject
H1: µBSESN≠µNSEI≠µIXIC≠µHSI≠ µDJI≠µN225
In order to test the null hypothesis stated in Table 2, non- indices and Indian stock market indices. Apparently, this
parametric „H‟ test is used. The test reveals that during the paves way for examining cause and effect relationship
study period, the performance of selected indices measured amongst them. The outcomes of the degree of relationship
by average return remained same. This outcome iterates the are explained in Table 3.
existence of common trend among the global stock market
Table 3:Correlation between selected Indian stock indices and Global stock indices.
Index IXIC DJI HSI N225
Correlation +0.04 +0.05 +0.13** -0.00
BSESN
Sig. 0.542 0.437 0.044 0.993
Correlation +0.04 +0.05 +0.12* +0.01
NSEI
Sig. 0.537 0.473 0.070 0.866
Correlation +0.89*** +0.12* +0.07
IXIC
Sig. 0.000 0.057 0.259
Correlation +0.12* +0.10
DJI
Sig. 0.072 0.137
Correlation +0.09
HSI
Sig. 0.191
Pearson’s Correlation (BSESN, NSEI) = +0.995*** Sig. = 0.000
It is seen from Table 3 that Hang Seng Index shows positive correlation at 0.01 level. Hence, the initial analysis
statistically significant low degree of positive correlation has shown that the selected indices have either shown no
with S&P BSE SENSEX at 0.05 level and statistically statistically significant correlation or statistically significant
significant low degree ofpositive correlation with NSE very low degree of positive correlation. Although, the
NIFTY, NASDAQ Composite Index, Dow Jones Industrial preliminary investigation has rendered less significant
average and NIKKEI 225 index at0.1 level. NASDAQ results, causality examination is carried to validate the
Composite Index and Dow Jones Industrial average impact of global stock market indices on the Indian stock
exhibits statistically significant high degree of positive market indices and results are shown in the Table 4 and
correlation at 0.01 level.S&P BSE SENSEX and NSE Table 5.
NIFTY exhibits statistically significant high degree of
Table 4: Results of regression - S&P BSE SENSEX on selected Global stock indices
Alpha Beta F-test
Index DW Statistic
(t, Sig.) (t, Sig.) (F, Sig.)
0.05 0.03 1.89
IXIC 0.37, 0.54
(0.88, 0.38) (0.61, 0.54) Do not Reject
0.05 0.06 1.89
DJI 0.61, 0.44
(0.87, 0.38) (0.78, 0.44) Do not Reject
0.05 0.11** 1.89
HSI 4.11**, 0.04
(0.86, 0.39) (2.03, 0.04) Do not Reject
0.05 -0.001 1.90
N225 0.00, 0.99
(0.95, 0.35) (-0.01, 0.99) Do not Reject
Multiple linear Regression
̂
(IS) (IS) (IS) (S @ 0.1) (IS)
IS denotes Insignificant, S denotes Significant
Table 4 emphasize the test results of regression analysis Composite index, Dow Jones Industrial average, Nikkei
pertaining to S&P BSE SENSEX with selected global stock 225 are remained statistically insignificant. Multiple
market indices. It is seen from the analysis that when the regression analysis has also exhibited the similar results as
explanatory variables are examined individually, the compared to individual regression, iterating, Hang Seng
systematic risk caused by Hang Seng Index is statistically Index is statistically significant at 0.1 level and other
significant to the extent of 0.11. The autocorrelation test indices are insignificant to explain the performance of S&P
has also shown that the residuals are not auto correlated. BSE SENSEX
The other global stock market indices such as NASDAQ
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.Table 5: Results of regression - NSE NIFTY on selected Global stock indices
Alpha Beta F-test
Index DW Statistic
(t, Sig.) (t, Sig.) (F, Sig.)
0.04 0.04 1.87
IXIC 0.38, 0.54
(0.75, 0.46) (0.62, 0.54) Do not Reject
0.04 0.05 1.87
DJI 0.52, 0.47
(0.75, 0.46) (0.72, 0.47) Do not Reject
0.04 0.10* 1.87
HSI 3.31*, 0.07
(0.74, 0.46) (1.82, 0.07) Do not Reject
0.05 0.01 1.87
N225 0.03, 0.87
(0.80, 0.43) (0.17, 0.87) Do not Reject
Multiple linear Regression
̂
(IS) (IS) (IS) (S @ 0.1) (IS)
IS denotes Insignificant, S denotes Significant
Table 5 depicts the test results of regression analysis REFERENCES
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insignificant. Also, the residuals of the regression do not Stock Market Integrated with the US and Japanese Markets?: An
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and Indian stock markets”,Journal of Asian Economics, Vol. 22
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Indian stock markets with other leading stock markets”,Studies in
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examine, how the global stock markets‟ performance is
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influencing the Indian stock markets. This study focuses on (2014),“Do Global factors impact BRICS Stock Markets? A
measuring the impact of selected global stock market quantile regression approach”,Emerging Markets Review, Vol.
indices such as NASDAQ Composite Index, Dow Jones 19, pp. 1-17.
Industrial Average, Hang Seng Index and NIKKEI 225 on 6. Mukherjee, D. (2007),“Comparative Analysis of Indian Stock
the performance of Indian broad based stock market indices Market with International Markets”,Great Lakes Herald, Vol. 1
such as S&P BSE SENSEX and NSE NIFTY. The study No. 1, pp. 39-71.
indicates that during the study period, the return 7. Nasser, O. M. Al. and Hajilee, M. (2016),“Integration of
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distributed and their average performance remained equal. 8. Singh, G. and Singh, P. (2010),“Chinese and Indian Stock Market
The degree of relationship measured by Correlation Linkages with Developed Stock Markets”,Asian Journal of
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there is statistically significant correlation found with Hang Integration – A Study of Selected World Major Stock
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showed feeble statistically significant systematic risk
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indices had no impact on the performance of selected
Indian stock market indices. However, attributing to the
extant literature, examining the market movements
nationally and internationally will strengthen investment
decisions.
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DEMOGRAPHIC VARIABLES AND THEIR RELATIONSHIP WITH LIFE
SATISFACTION: AN EMPIRICAL STUDY OF MILLENNIALS OF DELHI,
INDIA.
* **
Pushpinder Singh Inderpreet Sandhu
*
Research Scholar, Punjabi University, Patiala, India.
**
Assistant Professor, Punjabi University, Patiala.
ABSTRACT
The purpose of this empirical study is to examine the levels of Life satisfaction among the millennials of
Delhi-India, using a newer scale called the Riverside Life Satisfaction Scale (2018). A questionnaire-
based study was conducted on 530 millennials to assess the relationships between the six demographic
variables and the Life satisfaction. The data was analyzed using ANOVA and t-test. The results indicated
that out of the six variables, only gender had no significant relation with the Life satisfaction levels.
Married millennials, in the age range of 35-38 years, having higher income level of above INR 500000,
with Post Graduate education level, engaged in Business, had significantly higher level of Life
satisfaction than others.
Keywords: Life satisfaction Millennials; Riverside Life Satisfaction Scale; Demographic variables
1. INTRODUCTION his/her own life. Satisfaction is basically a state of mind
that also refers to both „contentment‟ and „enjoyment‟. This
Current era is an era of dynamism. With the advent and
enables a person to appraise the quality of his/her life to see
penetration of internet and related technology, life has
if they like the life, he/she leads.
become as quick as a click on a phone. This has resulted in
drastic change in the lifestyle of everyone, for some it has Life satisfaction can sometimes be interchangeably used
been a boon and for some it has an adverse effect on them with „happiness‟ or „subjective well-being‟. This practice,
as well as their environment. This highly dynamic however, is not really accurate.Subjective well-being
environment is not only demanding, but also exerts a lot of (SWB) has three separable components: positive affect,
pressure. This can result in increased stress and reduced life negative affect and life satisfaction (Diener, 1984). The
satisfaction. The youth of today, the so called millennials, first two components of subjective well-being refers to
are unfortunately facing such an environment. affective, emotional aspects and the latter to the cognitive-
judgmental aspects. Thus, life satisfaction is in fact a
Many past studies have been conducted to ascertain the
cognitive constituent of subjective well-being.Maddox
associations between various demographic variables and
(1987) in the encyclopedia of aging has also defines life
life satisfaction. But it is in recent times that the focus has
satisfaction as subordinate construct of subjective well-
been shifted to youth and millennials. In India, 52.2% of
being (SWB), others being happiness, mood and morale. It
the population is under 25 years of age as per the 2011
is thus, contentment with one‟s own life in general.
census (The Registrar General and Census Commissioner,
2011). This necessitates the need to conduct a study in this 1.2 Defining Millennials
regard.
Oxford Living Dictionaries describes a millennial as “a
1.1 Definition of Life Satisfaction person reaching young adulthood in the early 21st century”.
These are also called as the Generation Y. Different authors
Life satisfaction is a cognitive judgement of one‟s own life.
define millennials differently as per their studies. Pew
It is the evaluation of quality of life based on one‟s own
Research Centre, Washington, D.C., defined millennials as
subjective criteria (Shin and Johnson, 1978). Life
those who are born between 1981 and 1996. Anyone who is
satisfaction for Sumner (1966) is “A positive evaluation of
in the age group of 23-38 years as of January 2020, can be
the conditions of your life, a judgement that at least on
classified as a millennial. . Most of the population (i.e. : 92
balance, it measures up favorably against your standards or
million) is in the category known as the millennials.(Shetty,
expectations.”
Bhandary, Chandra, & Shetty 2018). They are said to be
Thus, in simple words, life satisfaction can be concluded as chief wage earners comprising of a significant proportion
the degree of satisfaction which a person enjoys from of working population in India. Thus, studies governing
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their life satisfaction are not only rare but also of a great among 274 females and 233 males aged 45 years and
significance for any economy. above. They concluded that socioeconomic status, personal
and social background, formal participation, informal
2. THEORETICAL BACKGROUND:
involvement, and health status have significant impact on
MEASUREMENT OF LIFE SATISFACTION
life satisfaction. Lee et al., (2004) studied the predictors of
Different scales or approaches for measuring the life life satisfaction among 194 Korean nurses. They concluded
satisfaction have been developed. Some of these scales that the life satisfaction among selected Korean nurses was
orapproaches, as identified while reviewing the literature, average and the most significant predictor in the life
are quoted below: satisfaction among Korean nurses was the shift pattern.
Suar et al., (2019) in their study stated that there are
SWLS- Satisfaction With Life Scale is a multi-item scale to
activities which promote personal relationships and
measure life satisfaction as a cognitive-judgement process
emotional stability, and that in turn can improve the
(Diener, Emmons, Larsen & Giffin, 1985). SWLS is the
subjective well-being among millennials. Bryant &
most widely used measure of life satisfaction comprising
Constantine (2006) also tried to explore the relationship
the majority of citations in the literature reviewed.
between multiple role balance, job satisfaction and life
TSWLS- Temporal Satisfaction With Life Scale assesses satisfaction among 133 working school counsellors. Nair &
life satisfaction using SWLS by taking time into Gaither (1999) also conducted a study to check the gender
consideration. This is done by including each of the items based differences among faculty and reported that no
of SWLS for assessing life satisfaction with one‟s past, significant difference was found in life satisfaction in male
present and future lives.(Pavot, Diener & Suh,1998). and female faculty.
Michalos (1980) in his study used items that individually 3. AIM OF STUDY
refer to satisfaction with a different life domain. These
There are studies to check the applicability of the most
items can take forms of various variables for example,
dominant scale –SWLS (Oshi, 2006; Tucker, Ozer,
finances, friendship and health.
Lyubomirsky & Boehm, 2006; Arrindell, Heesink, Feij,
RLSS- the recent addition to this practice of measuring life 1999, etc.), but rare attempts have been noticed to
satisfaction is the Riverside Life Satisfaction scale practically apply the recently developed RLSS scale and
developed in 2018. Due to some contradictions in the fifth that too in a different cultural context. Also, conducting
item of the SWLS scale (Pavot and Deiner, 1993,2008), studies on the life satisfaction among millennials is of great
RLSS was developed to put forward a new scale which significance for any economy. Thus, the aim of the study is
included strengths of SWLS and to acknowledge it‟s twofold:
lacking spheres.(Margolis, Schwitzgebel, Ozer,
Lymbomirsky, 2018).  To study the relationship between Life Satisfaction
and demographic variables (age, gender, marital
A great deal of empirical studies have been conducted status, qualification, profession and income) of the
which has given many predictors and sources of effecting millennials and,
one‟s satisfaction with lives. Brown & Duan (2007),
 To measure the life satisfaction among millennials
conducted a study to study the role of self-efficacy along
using Riverside Life Satisfaction Scale.
with various demographic variables, on the life satisfaction
of members of APA (American Psychological 4. METHODOLOGY
Association). They concluded that spouse/partner self-
4.1 Participants
efficacy and problem-solving coping were major predictors
influencing one‟s satisfaction with life. Boran Toker (2011) At the time of research, all those who were millennials,
also conducted an intensive study on 648 academicians meaning who were in the age range of 23-38 years, residing
working in the Universities of Turkey. He intended to find in the capital of India, Delhi, were contacted. Initially, a
out how various demographic variables had an impact on questionnaire was circulated via a web link in the social
the life satisfaction of various academicians. Plethora of circle of the researcher who were millennials residing in
studies have been conducted to check the impact of various Delhi, India, and they were requested to refer and forward
demographic variables like age, gender, marital status, the same questionnaire in their millennial social circles.
educational levels, and income levels on various sample Thus, a chain of referrals was formed which snowballed
sets. into 553 responses. 23 responses were deleted as deemed
unfit for the study. This gave a total of 530 workable group
Edwards & Klemmacks (1973) conducted a study to check
of respondents. The demographic details of the respondents
the relationship between 22 variables and life satisfaction
are given in the table 1.
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Table-1 Demographic profile of the respondents
Gender % n Marital Status % n
Males 45.7 242 Married 65.9 350
Females 54.3 288 Unmarried 34.1 180
Age % n Income % n
23-26 years 18.5 98 Below INR 100000 15.8 84
27-30 years 31.7 168 Between INR 100000-200000 3.8 20
Between INR 400000-500000 26.8 142
Above INR 500000 34 180
Profession % n Education % n
Student 9.8 52 10+2 4.2 22
Research Scholar 2.6 14 Graduate 30.2 160
Service 52.8 280 Post graduate 62.6 332
Business 29.1 154 Ph.D. 3 16
Home maker 5.7 30
4.2 Measures 5. FINDINGS

Life satisfaction was assessed using the Riverside Life ANOVAs (with post hoc tests - Tukey) and t-tests were
Satisfaction Scale (RLSS) developed in 2018 (Margolis, computed to determine relationships of age, gender, marital
Schwitzgebel, Ozer, Lymbomirsky, 2018). This is status, profession, qualification and income with the level
relatively a newer scale which consisted of 6-items of Life satisfaction of the millennial respondents of Delhi,
measuring one‟s subjective well-being. The review of India. Significant differences were found among life
literature showed that majority of the studies conducted in satisfaction scores for age, marital status, qualification
this field used the conventional SWLS- Satisfaction With level, profession and income level. No significant
Life Scale, which is a 5-item scale developed by Diener, differences were found for gender.
Emmons, Larsen & Giffin (1985). Responses were rated on
Millennials in the age range of 35-38 years (M=5.78,
a 7-point Likert scale ranging from 1 “strongly disagree” to
S.D=0.81) have significantly higher levels of satisfaction as
7 “strongly agree”. This research gap was identified and
compared to millennials of age range 31-34 years (M=5.35,
worked upon in this study. The internal reliability of the
S.D= 0.71), 27-30 years (M=5.06, S.D=0.85) and 23-26
scale was estimated to be around .93 (Margolis,
years (M=4.43, S.D=0.71). Millennials who were Post
Schwitzgebel, Ozer, Lymbomirsky, 2018). Cronbach alpha
Graduate had highest level of life satisfaction (M=5.4,
reliability coefficient for the present sample participants
S.D=0.85) followed by Ph.D. (M=5.31, S.D=0.35),
was 0.91, indicating high scale reliability.
Graduate (M=4.88, S.D=0.88) and then 10+2 (M=4.2,
The questionnaire was divided into two sections. First S.D=0.71) at the last. Millennials engaged in Business
section asked for the demographic profile of the (M=5.43, S.D=0.8) had maximum level of satisfaction as
respondents and had six major variables, which were age, compared to Research Scholars (M=5.28, S.D=0.55),
gender, marital status, profession, qualification and income. Service (M=5.23, S.D=0.91), Homemaker (M=5.08,
The Second section included six statements from the RLSS S.D=0.53). Students were least satisfied (M=4.25,
scale to measure Life Satisfaction (Margolis, Schwitzgebel, S.D=0.76). Millennials who earned annual income above
Ozer, Lymbomirsky, 2018). INR500000 (M=5.81, S.D=0.76) had significantly higher
levels of satisfaction as compared to those earning between
For the purpose of meeting the objectives in the current
INR400000-500000 (M=5.26, S.D=0.63) followed by those
study, Independent sample t-test and One-way ANOVA
earning between INR300000-400000 (M=4.7, S.D=0.43),
were computed to assess differences or the relationships in
between INR200000-300000 (M=4.65, S.D=0.48), between
level of life satisfaction related to the selected six
INR100000-200000 (M=4.56, S.D=1.45) and below
demographic questions. Tukey test was then used for post
INR100000 (M=4.45, S.D=0.78) respectively. Married
hoc comparisons of ANOVA at 95% confidence level. All
millennials (M=5.56, S.D=0.78) were more satisfied than
the analyses were performed using SPSS 16.
unmarried millennials (M=4.56, S.D=0.76). No significant
differences were traced in the life satisfaction of two
genders. The results are shown in the table 2 and 3.
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Table-2 Results of the t-test
Characteristics df t Sig.
Gender 528 -0.20 0.83
Marital Status 528 13.12 0.01
Table-3 Results of ANOVA

Characteristics df F Sig.
Qualification level 3 23.51 0.01
Profession 4 19.97 0.01
Income 5 59.65 0.01
Age 3 55.06 0.01
6. CONCLUSIONS 2. Bryant, R. M., & Constantine, M. G. (2006). Multiple role

balance, job satisfaction, and life satisfaction in women school
In this study the major focus was set to utilize the RLSS- counselors. Professional School Counseling, 265-271.
Riverside Life Satisfaction Scale which has been recently
3. Brown, C., & Duan, C. (2007). Counselling psychologists in
devised to measure life satisfaction. Majority of the academia: Life satisfaction and work and family role
previous studies in this regard have been using the tried and commitments. Counselling Psychology Quarterly, 20(3), 267-285.
tested SWLS. RLSS has provided a 6-item scale instead of
4. Diener, E. (1984). Subjective well being. Psychological Bulletin,
a 5-item scale provided by SWLS. Thus, this dearth of 95, 542-575.
studies utilizing the RLSS ignited need for this study.
5. Diener, E., Emmons, R. A., Larsen, R. J., & Giffin, S. (1985). The
Also, the review of literature has provided with the
Satisfaction With Life Scale. Journal of Personality Assessment,
numerous variables which can affect or predict the Life 49, 71-75.
satisfaction of an individual. Hence, assessing the
relationship between the most popular predictors, 6. Edwards, J. N., & Klemmack, D. L. (1973). Correlates of life
satisfaction: A re-examination. Journal of Gerontology, 28(4),
Demographic variables, with the Life satisfaction of the 497-502.
millennials has been done in a very culture-rich economy
of India (Delhi). Millennials have been a center point of 7. Lee, H., Hwang, S., Kim, J., & Daly, B. (2004). Predictors of life
satisfaction of Korean nurses. Journal of Advanced
many studies and such is the case in the present study.
Nursing, 48(6), 632-641.
The results have indicated that out of the six demographic 8. Margolis, S., Schwitzgebel, E., Ozer, J. D., & Lyubomirsky,
variables chosen for the study (age, gender, marital status, S.(2018). A New Measure of Life Satisfaction: The Riverside Life
profession, qualification and income), only the gender Satisfaction Scale. Journal of Personality Assessment, 1-10.
variable showed no such significant relationship with Life 9. Michalos, A. C. (1980). Satisfaction and happiness. Social
satisfaction. Married millennials, in the age range of 35-38 Indicators Research, 8, 385-422.
years, having higher income level of above INR 500000,
10. Oshi, S.(2006). The concept of life satisfaction across cultures:
with Post Graduate education level, engaged in Business, An IRT analysis. Journal of Research in Personality, 40, 411-
had significantly higher level of Life satisfaction than the 423.
others.
11. Pavot, W., Diener, E.(1993). Review of satisfaction with life
Life satisfaction has proven to be an important topic for scale. Psychological Assessment, 5, 164-172.
researchers. This can effectively indicate the living 12. Pavot, W., Diener, E. (2008). The Satisfaction With Life Scale
environment of an economy. Thus, conducting researches and the emerging construct of life satisfaction. The Journal of
in this field can be beneficial for many stakeholders related Positive Psychology, 3, 137-152.
to that economy, be it millennials in the present study, rest 13. Pavot, W., Diener, E., & Suh, E.(1998). The Temporal
of the population, government, producers, marketers and Satisfaction With Life Scale. Journal of Personality Assessment,
alike. Further research needs to be conducted taking other 70, 340-354.
variables like sociological, psychological, physiological, 14. Suar, D., Jha, A. K., Das, S. S., & Alat, P. (2019). The structure
etc. into consideration. The study can also be conducted in and predictors of subjective well-being among millennials in
a different cultural setting other than Delhi, India. India. Cogent Psychology, 6(1), 1-18.
REFERENCES: 15. Shetty, B., Bhandary, R., Chandra, R. S., and Shetty, D. A.
(2018). Antecedents to Customer Loyalty in the Restaurant
1. Arrindell, A. W., Heesink, J., Feij, A. J.,(1999). The Satisfaction Industry: A Millennial Perspective. Indian Journal of Marketing,
With Life Scale(SWLS): appraisal with 1700 healthy young 48, 23-34.
adults in The Netherlands. Journal of Personality and Individual
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overall assessment of quality of life. Social Indicators Research,5,
475-492.
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17. The Registrar General & Census Commissioner. (2011). Census
of India. New Delhi: Ministry of Home Affairs. Retrieved May
28, 2016, from: http://www.censusindia.gov.in/2011census/C-
series/ C-13.html
18. Toker, B. (2011). Job satisfaction of academic staff: an empirical

study on Turkey. Quality Assurance in Education.
19. Tucker, K. L., Ozer, D. J., Lyubomirsky, S., & Boehm, J.

K.(2006). Testing for measurement invariances in the Satisfaction
With LIfe Scale: A comparison of Russians and North Americans.
Social Indicators Research, 78, 341-360.
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AN ANALYSIS BETWEEN THE RELATIONSHIP OF PERCEIVED
ORGANIZATIONAL POLITICS AND DEFENSIVE SILENCE IN INDIAN
PRIVATE SECTOR BANKS
* **
Balbir Singh Meenakshi Malhotra
*
Research Scholar, University Business School, Panjab University, Chandigarh
**
Professor, University Business School, Panjab University, Chandigarh
ABSTRACT
Employees are the most valuable assets of the organizations. They provide information, feedback, ideas
and, opinions for adopting change and developing their organization. For an organization, without the
involvement of employees, it is not possible to survive in market. Organizational politics is perceived as
positively and negatively both. When it is perceived negatively, employees remain silent; which is not
beneficial for any type of organization. The present study was conducted to find out relationship between
perceived organizational politics and defensive silence among the employees of Indian private sector
banks. On the basis of 150 respondents, it was found that there was significant and positive relationship
between perceived organizational politics and defensive silence
Keywords: General Political Behaviour, Perceived Organizational Politics, Defensive Silence
1.0 INTRODUCTION of silence employees have and to what extend perceived
organizational politics impact it.
Some form of politics will appear where humans are
participating and it is believed that it influences their The next sections discussed about the literature review
behaviours as well as their work performance (Gandz & followed by the conceptual framework. After that, research
Murray, 1980). Politics prevails when individuals or groups methodology part discussed followed with the results,
compete for limited resources because organisations are discussion, managerial implications, and limitations with
complex social institutions subject to competition among future implications.
departments, teams, units and individuals, thus
2.0 LITERATURE REVIEW AND HYPOTHESES
organizational politics is an inevitable reality and
DEVELOPMENT
organizational outcomes, expectations, relationships,
efficiency and processes are greatly influenced and affected Literature provides a broad understanding about the facts
(Vigoda; 2011, Newstrom; 2007). and help into the conduct of further studies to explore more
about the particular area. For the present paper, literature
According to Mintzberg (1985) “Organizational politics is
review had been done as under.
referred to a set of behaviours performed to enhance or
protect self-interest (individual or group) by any means or 2.1 Perceived Organizational Politics (POP)
at any expenses of organizational goals.” Organizational
According to Pfeffer (1981), “Organizational politics is all
politics has subjective and objective views. In the
about studying organizational power in action”. Ferris,
subjective view of organizational politics, which describes
the perception of one or his/her mind's psychological state Harrell-cook & Dulebohn (2000, p. 90) defined that
of politics within the organization and is therefore called “Perceived organizational politics involves an individual‟s
attribution of behaviours of self-serving intent and is
perceived organizational politics. Different studies and
defined as an individual‟s subjective evaluation about the
findings attract scholars to explore it more (Atinc, Darrat,
extent to which the work environment is characterized by
Fuller, & Parker, 2010; Ferris, Harris, Russell, & Maher,
2018; as cited in Wijewantha, P., Jusoh, M., Azam, S. F., & co-workers and supervisors who demonstrate such self-
Sudasinghe, 2020) serving behaviour.”
In the study of Kachmar and Baron (1999) revealed that if
Employees are most important assets of any organization.
organizational politics perceived negatively then its effect
They provide valuable feedbacks, information, ideas, and,
on performance, satisfaction, turnover intention and so on.
their opinions to the organization from which an
Studies have pointed out many negative impact of it, for
organization will achieve success in competitive era. But
sometimes, employees perceive organizational politics as example increased tension (Ferris, Frink, Galang, Zhou,
negative phenomenon and don‟t share such information or Kacmar, & Howard, 1996), decreased organizational
engagement
feedback to the organization. This will negatively impact
an organization. So, it is necessary to understand what type (Cropanzano et al., 1997), turnover and absenteeism
intention (Cropanzano et al., 1997; Ferris et al . , 1993;
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Vigoda, 2000), job dissatisfaction (Cropanzano et al., 1997; Ramanujam (2008, p. 41) defined employee silence as
Bozeman, Perrewe, Hochwarter, Kacmer, & Brymer, 1996), “employees‟ intentional withholding of critical work-related
decreased performance (Vigoda & Kapun, 2005) information from other members of their workgroup”.
organizational silence, employee silence (Khalid and Defensive silence is a dimension of employee silence.
Ahmed, 2016) and so on. Perceived organizational politics
Employees remain silent at their workplace due to reprisal
divided into three dimensions by Ferris and Kacmar
or punitive action may be taken against them (Brinsfield,
(1991):
2013). It is proactive in nature and used as self-protection in
A) General Political Behavior: The general political uncertain politically laden environment. Scholars also
behavior (GPB) mainly considered where no clear explored that employees feel insecure when management
rules and regulations and high political activity may ask them about their opinion and ideas Researchers
be present. Individuals have a window to interpret (Milliken, Morrison, & Hewlin, 2003; Van Dyne, Ang, &
these rules and regulations according their political Botero, 2003 as cited in Otsupius A. I., 2019), that why
skills. employees remain in defensive mode and don‟t speak
anything.
B) Go Along to Get Ahead: (GATGA) as lacking of
action by employees. To stay away from conflicts, 2.3 The following hypotheses are suggested in the
some employees may silently support specific person reference to the literature review:
or group. This is an important tactic to achieve self- H1: There is a significant relationship between GPB and
interest in a political environment, without disclosing defensive silence.
much.
H2: There is a significant relationship between GATGA
C) Pay and Promotion Policies (PPP): Kacmar and and defensive silence.
Ferris (1993) defined that pay and promotion policies
H3: There is a significant relationship between PPP and
encourage individuals to behave politically. When
defensive silence.
employees will not get their pay increase or
promotion according to their real performance, they H4: There is a significant relationship between Perceived
act politically (Ferris, Russ and Fandt, 1989; Ferris Organizational Politics and defensive silence.
and Kacmar, 1993).
3.0 CONCEPTUAL FRAMEWORK
2.2 Silence
The study's objective is to describe the relationship among
Albert Hirschman (1970) first coined the term „Silence‟ in the dimensions of perceived organizational politics and
organizational context. Employee Silence was proposed by defensive silence in Indian private sector banks. The
Pinder and Harlos in 2001. Organizational silence is used expected linkagebetween perceived organizational politics
to discuss organizational level phenomenon and employee as independent variable and defensive silence as dependent
silence is used to analysis individual level. Tangirala and variable are presented in Figure 1 (See Figure 1).
Figure 1: Conceptual model showing relationship between Perceived Organizational Politics and Defensive Silence
GPBB GATGA PPP
POP Defensive Silence
Source: Author’s own compilation

4.0 RESEARCH METHODOLOGY of organizational politics and further analysis of its impact
on defensive silence.
The next stage of this study is to empirically define the
relation between dimensions of perceived organizational 4.1 Research population and sample:
politics and defensive silence. To achieve this goal an
In the present study, convenience sampling was used for
empirical study was undertaken in India of various private
the data collection. Data was collected from Chandigarh
sector banks. The present research indicates understanding
and Gurugram. The employees above the clerical rank from
the relation between defensive silence and perceived facets
private sectors banks were selected for data collection. A
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total of 150 respondents provides their responses from the items in total. A scale proposed by Brinsfield (2013) was
selected private sector banks. used, under which 6 items related to defensive silence.
Seven-point Likert scale was used under which 1 denotes
4.2 Research Methods:
strongly disagree and 7 denotes strongly agree.
Correlation and regression methods were used to test the
5.0 RESULTS AND DISCUSSION
hypothesis and problem of the study analysis using a
survey tool. Questionnaire were distributed to collect the Under this section, first section demonstrates the results
data from the respondents because it is considered that (descriptive & inferential) and following section discussed
survey method is a suitable method for exploratory studies. about the results of the study.
4.3 Tools used: 5.1 Demographic Profile:The total sample size was 150.
The group has following information regarding
A scale developed by Kacmar and Carlson (1997) named
demographic profiles (see figure 2,3 & 4)
POPS was used under which three dimensions and 15
Figure 2: Descriptive statistics about Gender
Gender
40%
60%
Male Female
Source: Author’s calculation

Figure 3: Descriptive statistics about Age
Age
100
90
80
No of Employees
70
60
50
40
30
20
10
0
20-30 31-40 41-50 51-60
Age 89 44 5 12
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Figure 4: Descriptive statistics about Experience
Experience
60
50
No of Employees
40
30
20
10
0
0-5 years 06-10 years 11-15 years 16 to above
Experience 50 40 30 30

5.2 Relationship between Independent and Dependent Variables: Correlation among the variables as shown below in
table 1.
TABLE 1: Correlations Matrix
Variables Mean Std. Dev 1 2 3 4 5
1 GPB 3.89 1.35 1
2 GATGA 4.13 .99 0.65** 1
3 PPP 2.78 .89 -0.91 0.19 1
4 POP 3.80 .61 0.61** 0.38** 0.31** 1
5 Defensive Silence 4.29 .53 0.30** 0.25** 0.19* 0.51** 1
** Significant at 0.01 level, * Significant at 0.05 level
As shown in Table 1, in private sector banks of India all the From the dimensions of POP, General political behaviour
dimensions i.e. General political behaviour (GPB), Go has the highest correlation with defensive silence. Pay and
along to get ahead (GATGA), Pay and Promotion policies Promotion policies have the least correlation with defensive
(PPP), and, Perceived organizational politics (POP) have a silence. From the above findings we can conclude that the
significant positive correlation with Defensive silence. employees in private sector banks in India are remain silent
From the table it is observed that Perceived organizational or play a defensive mode when they feel politics as a
politics has 51 percent correlation with defensive silence. negative phenomenon in their organization.
Results of Regression analysis
TABLE 2: Model Summaryb
Model R R Square Adjusted R Square Std. Error of the Estimate R Square Change F Change Sig. F Change
1 .477a .227 .206 .44337 .227 10.587 .000
a. Predictors: (Constant), POP, PPP, GATGA, GPB
b. Dependent Variable: DEFENSIVE
TABLE 3: ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 8.324 4 2.081 10.587 .000b
Residual 28.308 144 .197
Total 36.632 148
a. Dependent Variable: DEFENSIVE
b. Predictors: (Constant), POP, PPP, GATGA, GPB
TABLE 4: Coefficients
Dependent variable
Independent variables
Beta t Significance
GPB -.0.34 -0.28 .78
GATGA 0.11 1.16 .25
PPP 0.05 0.63 .54
POP 0.43 4.06 .00*
Significant correlation = *p<0.05 (two-tailed)
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Table 2 reveals that independent variables explained 22.7 knowing the cause of silence and understanding about
% variance in defensive silence (F change= 10.58, p< defensive silence. Thus, the research contributes in the
0.05). According to Table 4, the result shows that General existing literature and theory of perceived organizational
political behaviour (α= -0.34, p> 0.05), Go along to get politics and silence.
ahead (α= 0.11, p> 0.05), Pay and Promotion policies (α=
7.0 LIMITATIONS AND FUTURE IMPLICATIONS
0.05, p> 0.05) are not directly associated with Defensive
silence. Thus, hypotheses H1, H2, and, H3 were not The study was included only few areas through which this
supported. Another variable called Perceived organizational study not generalized to all private sectors. Further, it
politics (α= 0.43, p<0.05) was positively associated with includes only Indian private sector banks and only a
Defensive silence and explain the variance in it. Thus, dimension of employee silence.
hypothesis H4 was supported.
For future research, it is suggested that public sectors banks
5.3 Discussion will be also include for better and generalized the results. It
is also suggested to explore the relationship and impact of
Information sharing has become an important asset in this
perceived organizational politics with more dimensions of
competitive era and organizations focus specifically on
employee silence. The study can be expended to the other
people who are eager to seek knowledge and willing to
sectors such as IT, Pharmaceutical and other Govt. owned
learn. “As knowledge becomes more centralto
subsidiaries.
competitiveness, the ability of individuals and
organizations to learn becomes a primary means for REFERENCES
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“The social setting of work organizations: Politics, justice, and
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“Organizational politics: The nature of the relationship between
This study presents an analysis of the relationship in Indian politics perceptions and political behavior”, In Research in the
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research, perceived organizational politics were established 5. Gandz, J., & Murray, V. V. (1980). “The experience of workplace
and analysed as the significant variable affecting the politics”, Academy of Management Journal, Vol.23 No. 2, pp.
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impact of perceived organizational politics on organization P. (1999). “An examination of the perceptions of organizational
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the different types of motives behind the silence of the 8. Khalid, J., & Ahmed, J. (2016). “Perceived organizational politics
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voice. It is necessary for an organization that employees 9. Milliken, F. J., Morrison, E. W., & Hewlin, P. F. (2003). “An
provide their views, feedback to their organization. It will exploratory study of employee silence: Issues that employees
don‟t communicate upward and why”, Journal of Management
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stronger from inside.
10. Mintzberg, H. (1985). “The organization as political arena”,
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in terms of their relationship with the defensive silence. synthesis of the research.”, Prentice-Hall.
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AN EMPIRICAL STUDY ON WORK ENGAGEMENT OF REMOTE
WORKFORCE
* **
Aditi Sharma Vijesh Chaudhary
*
Assistant Professor, HPKV Business School, SCMS, CUHP, Dharamshala
**
Research Scholar, HPKV Business School, SCMS, CUHP, Dharamshala
ABSTRACT
Covid crises has ushered in many changes in the ways businesses operate worldwide and the world of
work too is undergoing a paradigm shift. Globally, education is one of the sectors which are facing
immense disruption due to the ongoing pandemic. Online teaching became the buzzword in the
academic world and the offline classroom teaching has paved way for the virtual classrooms. The entire
academic fraternity is severely impacted by the chaos and is still adapting to the new teaching-learning
scenario. The present study explores the work engagement level of teachers amidst the rapidly evolving
academic environment which has affected the teaching learning process across the world. An internet
based cross sectional study of 208 higher education teachers who are working from home was done.
Social support and organizational support were positively linked with work engagement while the family
life negatively affected work engagement of employees. The successful implementation of the online
teaching method significantly depends on the active involvement of academic fraternity and the present
study indicates that the work engagement level of teachers is quite low in the current scenario and has
several implications for successful delivery of online education in the current pandemic situation.
Keywords: Covid-19, work engagement, multiple regression, UWES 17, Work from home.
INTRODUCTION is positively related to job performance (Chaudhary, R. et
al, 2011). Research on the employee engagement has
The year 2020 would go down in the annals of history as
yielded different engagement factors in different
the year of disruptions, chaos, uncertainty and turbulence
organizations as well as different countries. Among the
due to Covid 19 pandemic. Remote work, telecommuting,
determinants of the employee engagement is leadership.
and work -from - home have become the new normal
Leadership has a positive effect on employee engagement,
(Bandhyopadyay,P., 2021). The recently unveiled New
particularly by providing support and feedback to the
Education Policy, 2020 emphasized on the pivotal role of
employees. In order for employees to be supported
teachers in the educational reforms. Online teaching has
adequately, regular communication between employees and
brought a paradigm shift in the realm of education and the
leaders is necessary. It is now more important than ever
teachers globally are bracing themselves to the sudden
that leaders seize the opportunity to discover how their
changes in their academic environment.
employees work, to provide guidance to help them with any
Employee engagement is generally characterized as an challenges or barriers, to identify support they need, to
employee's degree of commitment and identification with ensure adequate resources are available, to establish and
organization values(Gruman& Saks, 2011). If an employee review tasks and objectives and to provide meaningful
is involved, s/he is conscious of her/his responsibility in the feedback and support( Markos&Sridevi, 2010;Joshi
company and motivates their colleagues to succeed. The &Sodhi, 2011; Benuyenah& Pandya, 2020). Another most
employee's positive attitude to the place of employment crucial factor of the employee engagement is having the
and their set of values is often referred to as her/his positive right virtual tools in place. With a dispersed staff, an
relationship with her/his work. Engaged staff go beyond the employee have to work much harder to make remote
task of executing their excellent functions(Saks, 2006). The working or WFH workers feel like they are part of the
empirical work examines the work engagement levels of organization culture. The degree of employee engagement
teachers in higher education amidst the ongoing pandemic. can have an important impact and companies should allow
The study also examines the linkage between work remote staff to work together as if they really were next to
engagement and social support, organizational support and each other to get the most from them(Shuck, Reio, &
health personal lives of employees working from home. Rocco, 2011;Chanana &Sangeeta, 2020).Previous studies
have also highlighted the importance of virtual teamwork
LITERATURE REVIEW and collaboration in the modern organizations.
Human capital is one of the key resources in an
In the time of stress due to the lockdown, maintaining
organization and a competent workforce is one of the key sound mental health is also important. Employers need to
drivers of success. Employee engagement is a measure of adopt wellness measures that positively affect the mental
commitment of an employee towards the organization and
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health of employees. To provide formal evaluations and METHOD
mental health services, it is necessary to run employee
Participants
assistance programs (Bedarkar&Pandita, 2014; Attridge,
2009). The target participants of the present study are the
academics who are teaching in colleges/universities and
Virtual Group Training Programs is emerging as popular
are/were working from home during the Covid pandemic.
tool for training employees due to the Covid-19 pandemic.
A total of 300 teachers were mailed the online
Investing in team’s personal development comes with a lot
questionnaire, out of which 208 responses (response
of benefits. Organizations are showing their employees that
rate=69.33%) were found suitable for further analysis. The
they value them, want to support their growth in
sample consisted of 115 males (55%) and 93 females
organization, and are equipping them with tools to be even
(45%).
more effective in their role(Shuck et al., 2011). There are
various virtual group tools to improve the employee Measures
engagement.
UWES 17 (Utrecht Work Engagement Scale)
Employee engagement activity through entertainment is
To assess the degree of work engagement, UWES (Utrecht
becoming crucial in today’s working environment. As
Work Engagement Scale 17) designed by Schaufeli et al.
difficult as social distance can be, the commitment does not
(2004) was used. The instrument contains 3 scales: Vigor,
have to be linked inside the walls of the workplace as it
was but using this opportunity to learn about each other and dedication and absorption. Total score on engagement were
what is really good for the team. The top management can calculated as suggested by Schaufeli and Baker (2004).
be open for new ideas. There are some recommendations Research objectives
found in the past studies. For example, virtual yoga or
training classes—members of a team will take turns The ongoing pandemic has temporarily resulted in online
running a class or jointly enter a certified online training classrooms replacing the traditional classrooms and despite
course(Tsai, 2016).As engagement may be affected by the obstacles, the teacher and the student; ‘the key
these factors, the aim of the study was to examine the stakeholders in academic ecosystem’ are trying their best to
engagement level of teachers in the current turbulent cope up with the challenge thrust upon them. The main
environment and to explore the link between social support, objective of this research is to assess the employee
organizational resources, health and family lives with the engagement levels of teachers in higher education who are
work engagement. working from home. The following hypothesis was
formulated for testing:
H0: Work engagement level of teachers is affected by
quality of social support, organizational resources, health
and family life.
RESULTS
Descriptive Statistics
Table 1:
Variable Mean Standard Error Standard Deviation
Work Engagement 2.77 0.11 1.71
Gender 0.55 0.03 0.49
Personal Contact 5.67 0.18 2.66
Mental Health 0.53 0.03 0.49
Training 0.46 0.03 0.50
Entertainment 0.50 0.03 0.50
Virtual Teamwork 0.48 0.03 0.50
Number of Children 2.36 0.11 1.67
Source: Authors own findings
The descriptive statistics reveal that overall engagement (Shuck, Reio& Rocco, 2011) and some cross cultural
levels of employees was very low (M=2.77), based on the studies too have revealed that engagement levels of Asians
cutoff point set by the designers of the scale (Schaufeli et is less in comparison to westerners.
al., 2004). Over a past decade, research on work
engagement has reported low engagement levels worldwide
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Table 2. Results from Multiple regression analysis
Method: Least Squares

Sample (adjusted): 208
Variable Coefficient Std. Error t-Statistic Prob.
Sex -2.47 0.25 9.67 0.0004

Salary 1.65 1.94 3.34 0.0169
Personal Contact 2.67 0.94 2.65 0.0457
Mental Health 0.79 0.62 2.24 0.0294
Virtual Tools 1.00 0.54 4.38 0.0046
Virtual Training 0.98 0.65 2.23 0.0668
Entertainment 0.43 0.14 0.55 0.5647
Virtual Team 0.56 0.10 0.84 0.4747
Marital 0.23 0.14 0.64 0.6477
Children -0.65 0.88 -3.98 0.0074
C 8.76 8.37 5.01 0.0044
R-squared 0.62 Mean dependent var 517.86

Adjusted R-squared 0.60 S.D. dependent var 134.61
S.E. of regression 59.53 Akaike info criterion 11.11
Sum squared residual 170123.0 Schwarz criterion 11.33
Log likelihood -294.11 Hannan-Quinn criter. 11.20
F-statistic 44.59 Durbin-Watson stat 0.43
Prob(F-statistic) 0.0003
Source: Authors own findings
The multiple regression results revealed that gender is provision of training and development opportunities
negatively associated with employee engagement which (Shuck, Reio& Rocco, 2011). The regression analysis
implied that male employees had less engagement scores revealed that entertainment activities, virtual teamwork,
than female. The reason might be because the male and marital status employees has no significant effect on
employees could not relate home as their place of work the employee engagement. Peng (2020) in a study among
(Shuck, Reio& Rocco, 2011) in comparison to female higher academic institutions too found no relationship
employees. The association between salary and work between marital status and employees engagement. The
engagement is positive which means that as the salary number of children the couple had negatively affected the
increases, the work engagement score increases. The results work engagement which may be due to the fact that the
are consistent with a study conducted by Zeng, Zhou and engagement levels of employees was low, it could have
Han (2009) in hotel industry which too showed that spilled over into their family live. Since role demands
engagement scores of staff increases as the salary increases. influence the task behavior of employees, work from home
The contact with the management i.e social support also resulted in constant role conflicts and may have resulted in
significantly affects the engagement levels. Jenkins, personal disengagement (Kahn, W.A., 2013). Thus, the
S.,&Delbridge, R. (2013) found that organizations that hypothesis of the study was partially accepted.
focus on soft aspects like maintaining social relations had
The r-square and the adjusted r-square in the regression
more engaged employees. The mental health variable is
table show that the model is fit. The r-square is 0.62 which
also significant related with work engagement and its
means that about 62% of the variation in the dependent
positive association is validated by prior research
variable is explained by the independent variables while the
conducted Schaufeli et al (2008) which proved that
adjusted r –square is 0.60 which implies that about 60% of
engaged employees enjoyed good mental health. The
the variation in the dependent variable is explained by the
virtual trainings also had positive effect on employee
independent variables. The p-value of 0.0003 entails that
engagement. This implies that if the organizations conduct
the model is significant at 1% level of significance.
virtual training for their employees at regular frequency,
the employees reported higher engagement levels during CONCLUSION
works from home period. Work engagement is positively
Descriptive analysis revealed that the total scores for work
related with availability of emotional, psychological and
physical resources which includes tangible resources like engagement of teachers were very low which may be due to
provisions of computers, internet and intangible like role conflicts while performing multiple roles while
working from home. The multiple regression models
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revealed that social and organizational support as well as https://www.doi.org/10.4135/9781452276090.n151
mental health positively affected the work engagement 12. Markos, S., &Sridevi, M. S. (2010). Employee engagement: The
while family life (number of children) negatively impacted key to improving performance. International Journal of Business
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family lives and work engagement (Eldor, L., 2016). marital status: Evidence from higher education
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home during the pandemic. To improve the engagement engagement. Journal of Managerial Psychology.
levels, the organizations need to keep in mind that engaged https://doi.org/10.1108/02683940610690169
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Taris, &Rhenen, W. 2008), hence the universities and engagement scale Preliminary Manual Version 1.1. Occupational
Health Psychology Unit Utrecht University.
colleges need to actively take measures to provide tangible https://doi.org/10.1037/t01350-000
as well as intangible resources to the faculty for successful
implementation of digital education. Taking measures to 16. Schaufeli, W. B., Taris, T. W., & Van Rhenen, W. (2008).
Workaholism, burnout, and work engagement: Three of a kind or
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engaged teachers are precursor to quality teaching and
17. Shimazu, A., Schaufeli, W. B., Miyanaka, D., & Iwata, N. (2010).
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response theory analysis of the Utrecht Work Engagement
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ASSESSMENT OF EMOTIONAL INTELLIGENCE AND ORGANIZATIONAL
COMMITMENT: A SYSTEMATIC REVIEW
* **
Priyanka Sharma Sandeep Singh
*
Research Scholar, Department Of Commerce, Punjabi University, Patiala.
**
Assistant Professor, Punjabi University Regional Centre for IT & Management, Mohali.
ABSTRACT
Emotional intelligence is characterized as a capacity of the individual to control and measure his own
emotion and the emotion of others. Itplays an indispensable part in organizational productivity. The
individual with high emotional intelligence shows an inspirational mentality towards the organization
and emotional intelligence significantly impacts organizational commitment.The present study is based
on previous literature and the objective of the study was to systematically review the relationship between
emotional intelligence and organizational commitment. This research specifies the implications from the
theoretical perspective. The reviewed studies pointed to positive associations between emotional
intelligence and organizational commitment and highlighted several involved mechanisms.Besides, the
study suggests that employers must consider workers emotional intelligence capabilities when making
strategy and taking the decision as they correspond with organizational commitment. The findings of the
studyindicate the need of drawing in and utilizing highly emotionally intelligent people, training them in
various levels and driving them towards the use of the abilities required.
Keywords: Emotional Intelligence, Organizational Commitment, Systematic Review, Emotional Quotient
INTRODUCTION connection between Emotional intelligence and
Organizational commitment.
Commitment is a person's faithfulness towards the
organization. A committed individual consistently plans to REVIEW OF LITERATURE
proceed with work with an organization and puts forth
EMOTIONAL INTELLIGENCE
earnest attempts to accomplish its objectives.
Unexpectedly, an uncommitted representative isn't roused Emotional intelligence also known as Emotional quotient
towards the accomplishment of organizational objectives was first proposed by Salovey and Mayer (1990) as the
according to Kemp(1967). Affective commitment, capacity to evaluate and control one's andother’s emotional
continuance commitment, and normative commitment are feelings. The model had four principal perspectives to
three key aspects of commitment as per Meyer and Allen emotional intelligence like using emotions, recognizing
(1991). As per Alavi et al. (2013) organizational emotions, regulating emotions and understanding emotions
commitmentis defined as a worker's positive or negative (Salovey and Mayer, 1990). Goleman (1995) described
mentality towards the organization. Moreover, emotional emotional intelligence as a potential factor to comprehend
intelligence is vital for a person's prosperity. Emotional and predictthe performance of workers in the working
intelligence is a sort of social intelligence empowering environment. This model had four bunches which is self-
employees to control and classify their own emotions and management, relationship management, self-awareness and
that of others (Salovey and Mayer, 1990). It is an social awareness.
understanding of individual and others sentiments, and
As perMasrek et al., (2015) the employee commitment,
further to utilize them in the decision-making process as
per Goleman (1998). Emotional intelligence is non- recruitment, talent development, cooperation, and retention
cognitive abilities, making a person more grounded against can be seen viably through the commitment of emotional
intelligence in an organization. Emotional intelligence had
all internal and external components of pressure (Salkojani
a generally excellent effect upon organizational
et al., 2012). Various researchers like Alavi et al. (2013);
commitment, absenteeism, work pressure, job satisfaction
Moradi and Ardahaey (2011); Rathi and Rastogi, 2009;
Goleman (1998) have set up the relationship of Emotional and performance (Utami et al., 2014).Performance is a
intelligence with Organizational commitment. While past point of consideration for every organization which
depends upon various factors (Singh, 2017; Singh and
research considers the relationship between emotional
Dhaliwal, 2018; Singh and Bala, 2020). According to the
intelligence and organizational commitment, the present
statement by Moradi and Ardahaey, (2011) the centre of
study offers insight through various perspectives on these
emotional intelligence is a term used to depict the mind-
two crucialconstructs. Subsequently, the reasoning of the
current exploration is to fill the gap by researching the boggling capacity to direct our motivations, comprehend
and share the feeling of others and have the option to
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survive or recuperate rapidly from the troublesome the organization's objectives and values, want to stay an
condition. As indicated by the investigation of Utami et al., individual from the organization and truthfulness to the
(2014), individuals with higher emotional intelligence had organization (Mowday et al., 1982). Organizational
developed feelings, when contrasted with individuals with commitment is a compelling reaction to the entire
low emotional intelligence and then again individuals with organization and the level of connection or faithfulness
high emotional intelligence can manage pressure, work- workers feel towards the organization. Indeed normative,
related issues effectively. affective and continuance commitment address mental
states that have suggestions on whether a worker stays part
Emotional intelligence ordinarily is estimated by four
of an organization. There is a need to comprehend a
factors such as Regulation of Emotion, Use of Emotion,
connection between people and organization as far as the
Self-Emotion Appraisal and Others Emotions Appraisal.
theoretical structure of organizational commitment.
According to the statement by Tsai et al., (2011) it had
Organizational commitment is generally portrayed in the
been seen that individual with high emotional intelligence
administration and social sciences writing as a critical
will comprehend and control the feeling of their own and
factor in the association between people and organization.
others and it gives significant commitment to the efficiency
of the working environment and execution of both the Organizations are ceaselessly overhauling their innovation,
individual level and organization level.As per Cote, (2017) interaction and frameworks to adapt to challenging and
it isn't important to have a solid connection between an rivalry environment. It is characterized as an individual ID
individual's psychological intelligence and his emotional and contribution in the organization portrayed by solid
intelligence even though a wide range of intelligence are convictions and acknowledgement of the organization.
identified with one another, therefore it is irrelevant to While there is an understanding among researchers that the
expect that people with high psychological intelligence idea of organizational commitment shows the connection of
have high emotional intelligence and the other way around. a worker to an organization, there has been a discussion
As per Yang et al., (2018) study based on 200 health over the idea of organizational commitment. Commitment
professionals found that people with high emotional is the capacity of inalienable genuineness of a person,
intelligence shows less pressure, higher organizational which builds up the ability to try sincerely and give great
commitment than individuals who had low emotional outcomes even in poor and unfriendly conditions. With
intelligence. regards to the current investigation, organizational
commitment is viewed as a mentality, as it identifies with
ORGANIZATIONAL COMMITMENT
people's attitudes about the organization according to Allen
Meyer and Allen (1997) conceptualized organizational and Meyer (1990).
commitment as organizational commitment is a mental
EMOTIONAL INTELLIGENCE EFFECT ON
expression that describes organizational individuals'
ORGANIZATIONAL COMMITMENT
relationship with the organization and has suggestions for
the choice to precede or stop participation in the Alavi et al., (2013) stated that the organization commitment
organization. As per Miller (2003) it is "a state where a can be depicted as the degree to which a worker's positive
worker relates to a specific organization & its objectives or negative mindset towards the organization as a whole
and wishes to keep up participation in the organization". and not the worker's particular job in that organization. As
Organizational commitment is divided into three per Tsai and Tsao (2017) it is an instrument for workers to
dimensions normative, affective and continuance wish to remain and work in that organization. According to
commitment. Normative commitment alludes to Shafiq and Rana (2016) emotional intelligence has a
commitment dependent on a sense of obligation to the significant positive relationship with three dimensions of
organization. Continuance commitment alludes to workers' organization commitment (normative commitment,
appraisal of whether the expenses of leaving the continuance commitment and affective commitment).
organization are more prominent than the expenses of Moradi and Ardahaey (2011) stated that workers with high
remaining. Affective commitment alludes to workers' emotional intelligence have high organizational
identification with, emotional connection, and contribution commitment. According to Meyer and Allen (1991)
to the organization. Workers with a solid emotional normative commitment is an obligation to stay in an
commitment stay with the organization since they want to organization; affective commitment incorporates the agreed
(Meyer and Allen, 2007). sensations of closeness and connection to the organization.
The continuance commitment can be characterized as how
As per Mowday et al. (1982) organizational commitment
much a worker's commitment towards the organizationand
has been utilized to infer three parts of staff perspectives
continuance commitment is attained when an employee
that show the degree to which the workers exhibit a
thinks of repercussions in terms of leaving an
powerful urge to stay the individual from the organization,
organization(Shafiq and Rana, 2016).
the level of readiness to apply a significant degree of
endeavours for organization and conviction of According to the statement by Tsai et al. (2011) at the
acknowledgement of the actions, objectives and estimation workplace,a manager with high emotional intelligence will
of the organization. It alludes to a worker's confidence in have high performance than amanager who has
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lowemotional intelligence. One significant factor to emotion that givescrucial contribution to the efficiency of
accomplish the objectives is the motivation of employee, the work environment and furthermore with high emotional
thus employees whose motivation level is high are more intelligence shows higher organizational commitment.
prepared and devoted to accomplishing the organizational Emotional intelligence consistently gives confidence and
objectives (Alavi et al., 2013). As per Nordin (2012) the incorporates the nature of emotional strength which assists
commitment of workers to like to stay in the organization the person to adapt to interpersonal struggles. The workers
will be high only if the division heads or HR managers who are emotionally intelligent are openlyoptimistic to
fulfil their necessities and it likewise portrays that divert their consideration from issue finding to problem-
emotionally intelligentacademic staffs are the individuals solving. It is suggested that emotional intelligence must be
who wish to remain with the organization and are incorporated for the selection and recruitment level and
committed to invest their maximum efforts. According to also it will assist the organization with accomplishing its
the study conducted by Khalid et al. (2018) the objectives and profitability.
organizational commitment had a specific significance to
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DEEP LEARNING FOR DIGITAL PATHOLOGY USING REPRESENTATION
LEARNING
* ** ***
Arockia Liborious Anish Anurag Govind Kumar Jha
*
Principal Consultant, Clariant, Mumbai, Maharashtra
**
Research Scholar, Vinoba Bhave University, Hazaribag, Jharkhand
***
Assistant Professor, Vinoba Bhave University, Hazaribag, Jharkhand
ABSTRACT
Disease diagnosis if made early and accurately will save lives. Pathologists manually diagnose diseases
based on tissue samples. The diagnostic process is usually time-consuming and costly. As a result,
automated tissue sample analysis from histopathology images is important for early diagnosis and
treatment. The collection, management, exchange, and interpretation of pathology knowledge including
slides and data in a digital environment is referred to as digital pathology. Digital pathology is a field
that combines pathology and computers, and it has the potential to replace traditional microscope-based
diagnosis soon. In this paper, a deep learning-based representation learning method for automatically
classifying histopathological images is proposed. Two well-known and current pre-trained convolutional
neural network (CNN) models, VGG-16, and Inception-v3, have been used for feature extraction. The
VGG-16 and Inception-v3 pre-trained model were tested on the color images of the Kimia Path24
dataset. Additionally, to reduce the number of extracted features, a Principal Component Analysis (PCA)
was done keeping in mind the future applicability of this proposed model in real life scenarios.
According to the obtained results, it may be said that the proposed pre-trained models can be used for
fast and accurate classification of histopathology images and assist pathologists in identifying some of
the most critical and life-threatening diseases like cancer at an early stage and improve the chances of
survival.
Keywords: Deep Learning, Classification, Digital Pathology, Transfer Learning, Representation
Learning, Convolution Neural Network
1. INTRODUCTION the same time, the whole process of studying the images
can happen parallel between experts instead of following a
The integration of algorithms for classification and retrieval
sequential step which kills a lot of time and delays the
in medical images through effective machine learning
process of disease identification.
schemes is at the forefront of modern medicine[1]. These
tasks are crucial as they are instrumental in detecting and Digital Pathology involves investigation of a biopsy or a
analysing abnormalities and malignancies faster and allow surgical tissue specimen at microscopic level. These tissue
well informed decision making on time. Digital pathology samples are chemically processed and then sectioned on a
is an emerging area in the field of clinical diagnosis where glass slide for the study and analysis of cellular
faster decision making with the help of advanced machine morphology mostly for cancer diagnosis. One of the steps
learning algorithms can save lives [2]. As an age-old involved in tissue segmentation so that it can viewed under
method of analysing tissue samples, the process of a microscope is to dye the tissue. One of more stains of
archiving microscopic information of specimens has been Haematoxylin-Eosin and Immunohistochemical (IHC) is
primarily achieved through the use and storing of glass used for this purpose. The nuclei regions are stained in dark
slides[3]. Glass slides are not only fragile in nature, but blue colour by Haematoxylin and the other structures like
hospitals and clinics need large and specially prepared cytoplasm, stroma etc., are stained with pink colour. IHC is
storage rooms to store specimens. To store these used to determine the cancer stage whether it is benign or
specimens, special infrastructural enhancements need to be malignant based on the presence or absence of proteins.
made so that the specimens are not destroyed. After the process of staining, digital images are generated
using fast slide scanners which contain one or multiple
One of the most promising ways of overcoming the
lenses to magnify the images at X20 or X40 magnification.
drawback of glass slides, is the use of Whole Slide imaging
Uniform light spectrum is used to illuminate the tissue
(WSI), also commonly known as digital pathology. WSI
slide. The slide scanners are provided with standard
not only can preserve the quality of the image and prevent
packages for corrections in spectral and spatial illumination
it from decaying but also has multiple other benefits[3, 4].
variation. Lymphocyte is the white blood cell which plays
One of the most important aspects of digital pathology is it
major role in immune system of the body. Epithelial tissues
allows multiple experts to read, analyse the same images at
line the outer surfaces of organs, blood vessels and inner
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surfaces of cavities of human body. Lymphocyte Nuclei problems associated with detection, segmentation and
(LN) have regular shape and are smaller in size than classification of nuclei are due to variation in slide
Epithelial Nuclei (EN). EN’s in high grade cancer tissues preparation, image acquisition like artifacts caused during
are larger in size and have clearly visible nucleoli. Also, image compression, noise etc., and the overlapping clusters
they show heterogeneous chromatin distribution and of nuclei. The aspect of nuclei plays a major role in
irregular boundaries called nuclear pleomorphism.The evaluating the existence of cancer and its severity.
Figure 1. Proposed Framework for Histopathological Image Classification
In 1999, Wetzel and Gilbertson developed the first auto- filtering was used to detect nuclear seed points, and a graph
mated WSI system[5], utilizing high resolution to enable cuts-based algorithm is used for segmentation. Overall, the
pathologists to buffer through immaculate details presented process achieved an accuracy of more than 86%.The
through digitized pathology slides. Ever since, pathology authors of this paper[12] contrasted the classification of
bounded by WSI systems is emerging into an era of digital histopathological images using Local Binary Patterns
specialty, providing solutions for centralizing diagnostic (LBP), Bag-of-Visual (BOV) terms, and deep features.
solutions by improving the quality of diagnosis, patient They presented a new dataset, KIMIA Path960, which
safety, and economic concerns[6]. For larger size images, contains 960 histopathological images from 20 different
the parameters to be estimated, required computational tissue types and demonstrated a deep feature recognition
power and memory also increase. Hence, the images must accuracy of 94.72%.Similar deep learning techniques for
be resized to smaller images which results in loss of histopathological image classification and fusion of
information at cellular level and there will be decrease of features when dataset is small to improve model accuracy
identification accuracy. Therefore, the entire Whole Slide is discussed in these papers [13][13][14]. Mitosis
Image (WSI) is divided into partial regions called patches identification is critical for cancer grading and is one of the
and each patch is analysed independently. For increased most significant factors in cancer prognosis. Authors of this
patch sizes, the accuracy [7]. paper[15] proposed a supervised model for detecting
mitosis signature from histopathological images using deep
II. LITERATURE SURVEY
learning. It includes five convolution layers, four max-
The broad dimensionality of the image in digital pathology pooling layers, four rectified linear units (ReLU), and two
makes computation and storage difficult; thus, contextually fully connected layers. Features such as morphological,
understanding regions of interest in an image aids in faster textural, and intensity are all handcrafted and are
diagnosis and identification by using soft-computing incorporated. The method provides an efficient second
techniques[8]. Cell structures such as cell nuclei, glands, opinion for breast cancer grading from whole slide images.
and lymphocytes are observed to have prominent
This paper found a large gap in faster classification and
characteristics that serve as a hallmark for detecting
higher precision with restricted training image data. This
cancerous cells, particularly in histopathology. Researchers
substantial gap has been closed by representation learning.
conclude that by correlating histological trends with protein
The findings are positive, and so far, they have shown
and gene expression, conducting exploratory
improved classification.
histopathology image analysis, and performing computer
assisted diagnostics (CADx), pathologists will be able to III. MATERIALS AND METHODS
make better decisions [9]. In recent years, WSI technology
Image segmentation is the problem of outlining relevant
has been steadily establishing laboratory standards as a
objects in images, the intent is to use the representation
method of digitizing pathology slides for more effective
learning feature using ImageNet pretrained models to auto
diagnostic, educational, and research purposes[10]. The
decide the feature selection that not only improves the
author of this paper[11] proposed the method of picture
model accuracy but also improves the model runtime.
foreground extraction using a graph cuts based binarization,
Representation learning is a technique that allows the
resulting in enhanced automatic detection and segmentation
algorithm to discover the representations needed for a
of cell nuclei. Multiple scale Laplacian of Gaussian
feature detection or classification of raw data.The data set
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used here is KIMIA Path960 which contain 960(=20×48) images were captured by Tissue Scope LE 1.0. The scans
images of manually selected 48 regions of interest. The were done with a 0.75 NA lens in the bright region.
Figure 2. KIMIA Path960 Dataset – Sample View

III A. Representation learning models  Experiment 1: Auto extracted features using
VGG16 pre trained model was used.
To provide preliminary results for setting a benchmark line
for the proposed data set, we performed two sets of feature  Experiment 2: Auto extracted features using
extraction experiments using the pretrained models of Inception-v3 pre trained model was used.
VGG-16 and Inception-v3. Following the feature selection
process, a multilayer perceptron and SVM classifiers were  Experiment 3: PCA was performed on the auto
used to compare results. To understand the applicability in extracted features of VGG16.
real life scenario where the image numbers will be higher  Experiment 4: PCA was performed on the Auto
in number, prevent overfitting and to better generalize the extracted features of Inception-v3.
model by producing independent, uncorrelated features
PCA was applied on both VGG-16 and Inception-v3 IV. RESULTS AND DISCUSSION
features. After PCA a multilayer perceptron and SVM In this study two pretrained models namely VGG16 and
classifiers were used to compare results. All the models Inception-v3 (which were trained on ImageNet dataset)
were evaluated using 10-fold cross validation technique as were used to auto extract the features of Kimia Path960
the dataset size is small and lacks variety of tissue images. dataset. All model results were computed using 10-fold
In all below experiments two classifiers namely neural cross validation.
network and SVM were used.
Feature Extraction Number of Features

VGG16 4096
Inception v3 2048
PCA on VGG16 Features 150
PCA on Inception v3 Features 150
Table 1. Details of feature dimension
IV A. Experiment 1 (VGG16 auto features) classifiers performed the same in terms of accuracy and F1
score.
VGG16 auto extracted features were used to classify the
images via neural network and SVM classifier. Both
(1)
Where, TP - True Positives, TN - True Negatives, FP - False Positives, FN - False Negatives
(2)
Where, Precision = TP/TP+FP, Recall = TP/TP+FN
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Table 2 summarises the results of this experiment and can yield improved classification accuracy.
supporting the claim that representation learning technique
Evaluation Metric Neural Network SVM
AUC 0.999 0.999
Accuracy 0.954 0.953
F1 Score 0.954 0.953
Precision 0.955 0.955
Recall 0.954 0.953
Table 2. Model Summary for VGG16 Feature Extraction
IV B. Experiment 2 (Inception v3 auto features) classifiers gave almost similar results in this case and the
same can be seen in Table 3.
Inception-v3 auto extracted features were used to classify
the images via neural network and SVM classifier. Both
AUC 0.999 0.999
FI Score 0.955 0.947
Recall 0.955 0.947
Table 3. Model Summary for Inception v3 Feature Extraction
The model run time for experiments 1 and 2 were recorded faster than VGG16 based models.
and listed in table 4. Inception-v3 based models run ~80%
.Features Classifier Accuracy (%) Number of Features Run Time (mins)
VGG16 Neural Network 0.954 4096 22.7
VGG16 SVM 0.953 4096 22.3
Inception v3 Neural Network 0.955 2048 4.4
Inception v3 SVM 0.947 2048 3.5
Table 4. Model Runtime Summary for Auto Extracted Features
IV C. Experiment 3 (PCA on VGG16 auto features) were able to explain more than 80% variance. The model
summary is presented in table 5 where SVM classifier
PCA was applied on VGG16 extracted features and from
gives better accuracy
figure 3 it is evident that 150 Principal Components (PC)
.
Figure 3: Explained Variance vs Number of Principal Components (VGG16)

AUC 0.985 0.994
FI Score 0.856 0.904
Recall 0.863 0.903
Table 5. Model Summary for PCs of VGG16 Extracted Features
IV D. Experiment 4 (PCA on Inception v3 auto features and like experiment 3, 150 PCs explained more
features) than 80% variance.
PCA was performed on Inception-v3 auto extracted
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Figure 4: Explained Variance vs Number of Principal Components (Inception-v3)

The model results were satisfactory, and PC’s give better generalization which in turn helps prevent the model overfitting
issue.
AUC 0.996 0.999
FI 0.906 0.948
Recall 0.906 0.948
Table 6. Model Summary for PCs of Inception v3 Extracted Features.
The model run time for experiments 3 and 4 were recorded to perform well when the number of features is less than
and listed in table 7. PCs of Inception-v3 based models run the number of samples. ANNs can overfit if training
~87% faster than PCs of VGG16 based models. SVM samples are less - a problem that SVMs do not have. Hence
classifier on PCs of Inception-v3 auto features performs SVM seem to perform better and also better generalizes the
better in terms of both time and accuracy.SVM are known feature vector and thus the model.
Features Classifier Accuracy (%) Number of Features Run Time (mins)
PCA (VGG16) Neural Network 0.863 150 18.5
PCA (VGG16) SVM 0.903 150 18.3
PCA (Inception v3) Neural Network 0.906 150 2.5
PCA (Inception v3) SVM 0.948 150 2
Table 7. Model Runtime Summary for PCA
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[14] Das R, Arshad M, Manjhi PK, Thepade SD (2020) Improved
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A CRITICAL REVIEW OF THE APPLICATION OF MASLOW'S

MOTIVATION THEORY IN INDUSTRY
*
Rajesh Kumar
*
Associate Professor, Officiating Principal, K.L.S.D. College, Subhash Nagar, Ludhiana.
ABSTRACT
Entrepreneurship holds the key to the faster economic development of nations. India needs
entrepreneurs of high caliber to realize Dr. Kalam's dream of a developed nation by 2020. Entrepreneurs
are highly motivated individuals willing to take risks to achieve their entrepreneurial goals. There are
many factors which motivate individuals to don the garb of an entrepreneur. Many of them start their
enterprises for fulfilling a set of specific needs. This study aims to discover the motives for creating their
enterprises, the needs satisfied through entrepreneurship and the level of satisfaction they enjoy through
entrepreneurial activity.
Keywords: Entrepreneurship, Motivation, Needs, Satisfaction, Achievement
1.
INTRODUCTION potential of creating numerous employment opportunities,
generate wealth for the economy and raise the overall
Entrepreneurship is the purposeful activity of an individual
standard of living.
or a group of associated individuals, undertaken to initiate,
maintain or aggrandize profit by production or distribution 2. LITERATURE REVIEW
of economic goods and services. Every entrepreneur
Entrepreneurs were called innovators with potentialities
independently or jointly with partners piece together the
and the will to do new things, and economic leaders in the
building blocks of industry land, labour, capital and
process of economic development, by Harbinson in 1956
organisation. It is the last one that cements the other three
and Schumpeter.The function of an entrepreneur is to
in any enterprise. The success of any enterprise is
reform or revolutionize the pattern of production by
determined by the quality of the entrepreneur, who sets up
exploiting new or untried technology and processes; as
and runs it.
argued by Joseph Schumpeter in 'Can Capitalism Survive'.
However, the role of entrepreneurship in economic growth The notion of the entrepreneur as an innovator is thus
involves more than just increasing output or income per believed to have been conceived by Schumpeter. The neo
capita. It involves initiating and constituting changes in the classical economists defined entrepreneurship and
structure of business as well as accelerating the generation, entrepreneurs as the means or instruments by which the
dissemination and application of innovative ideas, products economy and society are transformed and improved
and services. It expands the economic capacities of an (Schumpeter 1961).
economy and makes the marketplace more dynamic by
The study by SIETI (Small Industries Extension Training
creating an atmosphere of healthy competition among
Institute) Hyderabad (2014) probed the reasons for starting
existing business entities. Entrepreneurship, because of its
industrial units. The study revealed that the most important
unique characteristics, plays an important socio economic
reason for starting the small industrial unit was "economic
role in employment generation, resource utilization and
gains", followed by "ambition", "social prestige" and
overall economic growth. The greater is the entrepreneurial
"social responsibility". However, the most encouraging
activity of a nation, the faster is the growth of its economy.
factor had been, "high demand" for the product. Murthy
Entrepreneurial endeavours of a nation not only encourage
(2009) stated that family and educational background
existing business enterprises to become more
influence a person only to the extent of setting up an
entrepreneurial but such initiatives also provide the solution
industrial enterprise. The first to introduce the term
for various economic problems. Entry of new entrepreneurs
entrepreneur in the sense of an individual engaged in
enhances the economic capacities of an economy and
production of goods for the market place was the French
makes the marketplace more dynamic and competitive.
Economist Cantillon (Gupta 2010). This classical view was
Entrepreneurship is an engine of economic growth and the
later supported by many social scientists. J.B. Say, the
advancement of any economy is dependent upon the
French Economist, emphasized the risk bearing factor, in
intensity of the entrepreneurial initiatives taken by policy
his view of the entrepreneur as an 'Organizer' &
makers/bureaucrats. An institutional environment that
`Speculator'.
encourages, nurtures and boosts entrepreneurship has the
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Needs are essentially certain deficiencies. The wish to fulfil 4.3 Data Analysis - Tools
them motivates an individual to activity. Thus, the
Statistical tools were used for analyzing the data.
behaviour of an individual at a particular moment is usually
determined by the strongest need. Psychologists claim that ANALYSIS OF DATA
needs have a certain priority. As the more basic needs are
satisfied, an individual seeks to satisfy the higher needs. FACTORS THAT IGNITED THE
According to Maslow's Need Hierarchy Theory, human ENTREPRENEURIAL TALENT
needs can be arranged in a hierarchical manner as follows -
Physiological needs, Safety needs, Social needs, Ego needs Eleven factors, selected from a comparative study
& Self-actualisation needs. conducted among entrepreneurs by LouisdA Stevenson
(1980) and the entrepreneurial factors put forth by Manuh
3. RESEARCH OBJECTIVE and Brown (1987) were used for probing the
entrepreneurial talent. These factors were ranked 1 to 11 by
The objective of this research is to study the need
the respondents, based on the order of priority given to
satisfaction level among male entrepreneurs in Ludhiana
them while initiating the enterprise. The factors which
district of Punjab.
obtained top 3 ranks are included in the 'High Preference
4. METHODOLOGY Group'. Factors with the next four ranks are categorized as
'Medium Preference Group' and those with the remaining
The study is descriptive in nature. The opinion of the
four ranks are considered in the 'Low Preference Group'.
entrepreneurs regarding various needs and the level of
The available data are then analysed.
satisfaction pertaining to each is determined and analysed
using statistical techniques. From the analysis it appears that majority of the
entrepreneurs give high preference to taking up
4.1 Universe and Sample
entrepreneurship as a 'means of livelihood' (76%), for
The universe of the study comprised of small scale ventures 'progress in life' (73%) and due to the 'favourable
situated in Ludhiana district. It is not possible within the environment'(50%). Thus, 'means of livelihood' and
scope of study to include each and every entrepreneur from 'progress in life' appear to be the highly motivating factors
Ludhiana district. The sample consisted of 60 male that prompted them to enter into the field of
entrepreneurs selected conveniently from different varieties entrepreneurship.
of small scale ventures situated in Ludhiana district.
In the medium preference category most of the
4.2 Tools for Data Collection entrepreneurs include taking up entrepreneurship as an
'innovative activity' (60%), 'to gain control and respect in
The tool employed for data collection was a questionnaire
family' (57%), `taking advantage of government assistance
having two parts: the first part designed to determine the
and facilities' (53%) and 'assuming responsibilities' (46%).
demographic profile of the entrepreneur in relation to the
Now, considering the low preference category, the
various demographic factors and the second part,
entrepreneurs include factors like 'getting more freedom'
statements to evaluate the need satisfaction level.
(47%), 'proving one's abilities'(47%), 'taking it as a
The primary data were collected through questionnaires challenge or to fight a crisis' (67%) and as a 'leisure time
and interview schedules from 60 respondents. The study activity' (77%).
also made use of various types of secondary data including
studies, reports and data collected by government and non-
governmental organizations.
Table I: Average Scores Obtained For Various Factors by the Entrepreneurs
Motivating Factors Total Score Avg. Score
Livelihood 584 9.73
Responsibility 308 5.13
Progress in life 572 9.53
Prove abilities 302 5.03
Challenge or Crisis 248 4.13
Favourable environment 456 7.6
More freedom 304 5.1
Control & respect 330 5.5
Innovation 340 5.67
Govt. assistance 316 5.27
Leisure time activity 166 2.77
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ANALYSIS ON THE BASIS OF AVERAGES: manner as follows - Physiological needs, Safety needs,
Social needs, Ego needs and Self-actualisation needs.
It can be observed from the table that high scores are
obtained by the entrepreneurs for the two motivating However, it is generally not easy to say which of the needs
factors: 'as a means of livelihood' and 'progress in life'. That are important at a particular point of time and place. A
means they give high preference to these factors. For number of researches on the topic pointed out that there is
'means of livelihood', they obtained an average of 9.73 no rigid hierarchical structure as pointed out by Maslow.
points while for 'progress in life', it is 9.53 points. But for But everyone agrees that every individual has some order
motivating factors like 'assuming responsibility', 'proving for his need satisfaction. This order may not follow
abilities', and 'challenge or life crisis', the average scores Maslow's Hierarchy of Needs. Another problem in
obtained are 5.13 points, 5.03 points and 4.13 points, applying Maslow's Theory into practice is that a person
respectively. However, it is also a notable point that the tries for his high priority need when his low priority need is
scores obtained for the above 3 factors range from 4 to 7 reasonably satisfied. But, the reasonable level of
points, which can be considered as a score indicating satisfaction for particular need may differ from person to
medium preference. Considering the factor, 'favourable person.
environment', the entrepreneurs get 7.6 points. So, a higher
A STUDY OF THE EXTENT TO WHICH THE
preference is given to this factor by them. But, for the
ENTREPRENEURS HAVE SATISFIED THE
motivating factor 'obtaining freedom', the average score is
VARIOUS NEEDS
only 5.1 points.
The various needs analysed under this study have been
For the motivating factor 'gaining control and respect', they
selected from Maslow's Hierarchy of Needs Theory. Each
get 5.5 points, which can be included in the category of
need in the hierarchy has been measured separately. The
medium preference and for 'innovation' they score 5.67
response to various needs has been analysed through 24
points. Now considering the motivating factor 'government
statements. These statements are rated on a 5 point scale
assistance and facilities', they get 5.27 points as an average,
ranging from strongly agree to strongly disagree. Thus, the
which may again be considered as medium preference. But,
maximum score that may be obtained by a respondent for a
a different view can be observed for the motivating factor,
particular statement is 5 points and the minimum is 1 point.
'as a leisure time activity'; here they score only 2.77. The
However, the total score that may be obtained for a
above findings reiterate the previous observations on the
particular need by a respondent depends on the number of
preferences given to the various motivating factors.
statements assigned to that statement. The score obtained
NEEDS SATISFIED THROUGH THE ENTERPRISE by a particular respondent, for a particular need, determines
the extent to which his need is satisfied. For this purpose
The researcher then sought to study to what extent the
the percentiles,P33 and P66, have been determined for each
entrepreneurs have satisfied various needs. Needs are
need. Then, based on the percentiles the scores obtained by
essentially certain deficiencies. The wish to fulfil them
the respondents have been assessed as high, medium or low
motivates a person to activity. Thus, the behavior of an
scores.
individual at a particular moment is usually determined by
his strongest need. Psychologists claim that needs have a The respondents getting a high score (i.e. above P 66) for a
certain priority. As the more basic needs are satisfied, an particular need is considered as getting high satisfaction of
individual seeks to satisfy needs belonging to the next that need from their concern. Moderate satisfaction is
priority level. According to Maslow's Hierarchy of Needs received by those entrepreneurs who attain a medium score
Theory, human needs can be arranged in a hierarchical (i.e. between P33 and P66). Those who get only a low score
(i.e., below P33) is considered in the low satisfaction group.
Table 2 :Categorisation of the Entrepreneurs Into High, Medium And Low Satisfaction Groups
Needs Physiological Safety Social Ego Self- actualisation
High Score F 22 26 22 30 32
% 37 43 37 50 53
Med. Score F 24 18 20 18 12
% 40 30 33 30 20
Low Score F 14 16 18 12 16
% 23 27 30 20 27
Avg of Total Score 14.1 17.6 15 19.6 20.8
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PHYSIOLOGICAL NEEDS groupand 30%, in the low satisfaction group. So, it is clear
that the entrepreneurs are not that satisfied with regard to
The total score of the statements given to analyse
social needs. However, the average score shows a different
physiological needs falls in the range `4 to 20 points'. The
picture. The average score obtained by the entrepreneurs
P33 and P66 calculated respectively are 13 & 1. On
for social needs is 15 points, indicating medium
examining the data given in table for physiological needs, it
satisfaction.
is observed that only 37% of the entrepreneurs are highly
satisfied in this respect, while 40% of the entrepreneurs EGO NEEDS
obtained medium scores. However, the proportion of
For ego needs, a respondent can earn a maximum score of
entrepreneurs who have only low satisfaction of
25 points and a minimum of 5 points. P 33 and P66 are found
physiological needs from their concerns is only 23%. Thus
to be 18 points and 21 points respectively. Studying the
most of the entrepreneurs get only moderate satisfaction of
details of ego needs in the table, we can observe that about
their physiological needs. Now, analysing the average of
50% of the entrepreneurs get high satisfaction in respect of
total scores obtained for the 4 statements, it is seen that the
ego needs. Only 30% of them are included in the group of
average score obtained is 14.1 points, which also indicates
medium satisfaction. However, 20% of the entrepreneurs
that physiological needs of the entrepreneurs are only
have only low satisfaction. Thus, it is evident that majority
moderately satisfied through their enterprises.
of the entrepreneurs get high satisfaction of their ego needs.
SAFETY NEEDS/SECURITY NEEDS The average of 19.6 points for the ego need is in the range
of medium score (i.e., 18 to 21 points). So we may
A respondent's total score for the safety needs falls in the
conclude that the ego needs of the entrepreneurs are
range of '5 to 25 points' . P33 and P66 computed are 16 and
moderately satisfied.
20 respectively. Scrutinizing the figures of safety needs, it
is evident that safety needs of 43% of the entrepreneurs are SELF-ACTUALISATION NEEDS
highly satisfied through their enterprises, while 30% the
For self-actualization needs, a respondent's score falls in
entrepreneurs have moderate satisfaction of safety needs;
between 6 points and 30 points. P33 and P66 are 20 & 22,
only 27% of them have low satisfaction in this regard. Thus
respectively.Considering the self-actualization needs, some
a majority of the entrepreneurs have high or medium
variation is observed in the proportion of the entrepreneurs
satisfaction as regards their safety needs is concerned. For
in the different satisfaction groups. While self-actualsation
this need, the average score obtained by the entrepreneurs
needs of 53% of the entrepreneurs are highly satisfied
is 17.6 points, indicating moderate satisfaction.
through their enterprises, 20% get only moderate
SOCIAL NEEDS satisfaction. 27% of the entrepreneurs have only low
satisfaction. The average score obtained for self-
The maximum score obtainable for social needs is 20 and
actualisation need is 20.8, which is in the medium range
the minimum score is 4. P33 and P66 determined are, 15 &
(i.e., between P33 and P66). So, in the case of self-
17 respectively. From the table, it appears that high
actualisation needs also, the extent of satisfaction is neither
satisfaction of social needs is achieved by 37% of the
too high nor too low.
entrepreneurs. 33% of them fall in the medium satisfaction
Table 3: Hierarchy of Needs Satisfied (Ranks Given To The Needs) by the Entrepreneurs
Needs Mean Score Rank
Physiological 3.53 3
Safety 3.52 4
Social 3.75 2
Ego 3.93 1
Self-actualisation 3.47 5
A close scrutiny of the mean scores of the five needs environment' is also a major factor influencing the level of
reveals the order in which they are placed in the hierarchy entrepreneurial activity. More than half of the entrepreneurs
of needs on the basis of the level of satisfaction. The prime get a high satisfaction of their 'ego' and 'self-actualisation'
position is taken by `ego needs', followed by 'social needs', needs. "Safety" needs also account for a comparatively
'physiological need', `safety needs' and `self- higher level of satisfaction. The respondents' choice of the
actualisationneeds'. hierarchy of needs on the basis of their satisfaction is 'ego
needs', 'social needs', 'physiological need', ' safety needs'
CONCLUSIONS
and 'self-actualisation needs'.
It can be concluded on the basis of the present study that
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2. Brush, C.G., 2012, " Research on Women Business Owners:
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2nd edition, New Delhi, wiley Eastern Ltd., 1990.
8. Luthans, Fred, Organisational Behaviour, McGraw Hill Book
Company, 2002
9. Manjunath, V.S., Entrepreneurship & Management, Pearson
Sangiune, 2017
10. Prasad, L.M., Principles & Practice of management, 14th
edition, New Delhi, Sultan Chand & Sons, 2017
11. Saini, J. S., Entrepreneurship Development: Programmes&
Practices, Deep & Deep Publications, 2015
12. Saravenavel, P., Entrepreneurial Development - Principles
Policies and Programmes, 2nd edition, Madras, Ess Fee kay
publishing Hse, 1991
13. Sexton, D.L., and N. Bowman, 2018, " The Entrepreneur: A
Capable Executive and More," Journal of Business Venturing
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Publishing House, 1992 www.degruyter.com/view/J/erj
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WATER RESOURCE MANAGEMENT AND SUSTAINABLE DEVELOPMENT
IN INDIA: AN OVERVIEW
* **
Thipperudrappa.E Dhananjaya.K.B
*
Research Scholar, Department of PG Studies and Research in Economics, Sahyadri Arts College,
Kuvempu University, Shivamoga, Karnataka
**
Principal and Associate Professor, Department of Post Graduate Studies and Research in
Economics, Sahyadri Arts College, Kuvempu University, Shivamoga, Karnataka
ABSTRACT
India’s, water resources and water economy system largely determinants its socio-economic sustainable
development. Water resource and water sustainability for future generations, Water and environment
security, public access to clean water, the reliability and sustainability of water supplies for meeting the
economy’s needs, the condition of water bodies and water resources, and the ability to forecast and
prevent the damage wrought by water-caused emergencies, all play a large part in any state’s national
security. Water resources are national assets and natural resources. It is the quantitative and qualitative
changes in the country. At the present time, 76 percent of the total population has a specific water
availability of fewer than 5.0 thousand M3 per year per capita, with 35 percent having very low or
catastrophically low water supplies. This situation will deteriorate further at the beginning of the next
century; in 2025 most of the earth’s population will be living under the commodity of low or
catastrophically low water supply. This paper discusses in detail the concepts of water resources and
sustainable development along with water resources, various sectors, and also the current position of
water resources in India.
Keywords: Water resources, Sustainable development, water measurement, Water requirement.
INTRODUCTION available to itself every year, out of which 690 BCM comes
from surface water resource and 433 BCM comes from
In a nation, water resources and water economy systems
groundwater. The country blessed with significant water
largely determinants its socio-economic sustainable
resources potential-indeed, water resources of the country
development, Water resource, and water sustainability for
increases agriculture productivity, Industrial production,
future generations, Water, and environmental security.
poverty eradication, increasing income, good health human
public access to clean water, the reliability and
development. Water resources have a special role in the
sustainability of water supplies for meeting the economy‟s
development of the national economy and support for the
needs, the condition of water bodies and water resources,
social and economic programs in country regions.
and the ability to forecast and prevent the damage wrought
by water-caused emergencies, all play a large part in any REVIEW OF LITERATURE
state‟s national security.
A general review of literature of the period shows that the
India occupies 02 percent of the world‟s land area, researchers were very much interested water resource
represents 16 percent of the world‟s population and 15 management and sustainable development on different
percent of livestock, whereas it has only 4 percent of the aspects. The study attempts to focus a few relevant studies
water resources of the world. Furthermore, India ranks for this analysis.
133rd out of 180 nations for its water availability and 120th
GayathriUnnikrisnan(2016) in his stated that the
out of 122 nations for its water quality. It has been
sustainability of water resources will determine the well-
evaluated that 80 percent of India‟s surface is polluted
being of people in the long run. Here, an attempt was made
which results in India losing US$ 13 billion every year due
to understand the condition of water resources and
to water-related diseases. Challenges faced by the Indian
sustainable development in the Indian state of Kerala. It
water sector are due to increasing water consumption and
was recognized that serious and sincere measures are
wastage in urban areas, water-borne diseases, industrial
required to conserve the water resources in terms of both
growth, political and regulatory disputes, water cycle
quantity and quality.
imbalances, increasing irrigation and agricultural demand,
lack of technology, etc. According to estimates, India‟s Jeffrey Love and Vince Luchisinger(2014) carried out a
water sector requires investment worth US413 billion. study on “Sustainability and Water resources”, this paper
focuses on environmental concerns in regards to
According to the central water commission 2014, India has
sustainability, particularly water, and there are other areas
1.123 billion cubic meters (BCM) of usable water resources
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or topics that are also in need of attention when talking WATER RESOURCES
about sustainability.
Water resources have been described as a critical resource
R.Warren Flint (2004) in his opinion that water crisis in that underpins economic growth, underpins social
the world is due essentially to the unsustainable use and development, and obviously underpins environmental
management of water resources and to the distribution of protection of the present and future. (Heimbuch, 2010:
ecosystems such as forests, wetlands, and soil that capture, Jeffrey Love, and Vince Luchisinger;2014). At the present
filter, store and release water. Through our evaluation of time, 76 percent of the total population has a specific water
water resource sustainability, we must not only increase availability of fewer than 5.0 thousand M3 per year per
public awareness about the challenges the world is facing capita, with 35 percent having very low or catastrophically
in relation to water, but we must also change the way the low water supplies. This situation will deteriorate further at
water issue is perceived; from being a driver of conflict to the beginning of the next century; in 2025 most of the
being a catalyst for collaboration. In doing so, we must not earth‟s population will be living under the commodity of
only view sustainability as a problem of science, low or catastrophically low water supply.
engineering, or economics; but it is also founded on values,
According to Irina Bokova, Director of General UNESCO,
ethics, and the equal contributions of different cultures.
in an Official statement „Water resources are a key element
Rob Koudstaal, et al. (1992) examined the water resources in policies combat poverty, but are sometimes themselves
should be managed as an integral part of a nation‟s social threatened by development. Water directly influences our
and economic development. Water resources managers future, so we need to change the way we assess, manage,
should broaden their scope of work to include an integrated and use this resource in the face of ever-rising demand and
management approach. Instead of the traditional „supply the overexploitation of our groundwater resources”.
oriented approach‟ in which they act in response to ever-
According to Ban Ki Moon, Secretary General, United
increasing demands for water from different sectors of the
Nations, WorldWater Day official statement, (2013)
economy, water resources management agencies should
“Water holds the key to sustainable Development, we must
play a more active role in guiding and stimulating socio-
work together to protect and carefully manage this fragile,
economic development through more efficient water use.
finite resource”.
OBJECTIVES
SUSTAINABLE DEVELOPMENT
The present objectives of the study on the research article:
In its 1987 report, our Common Future, the United Nations
are
world commission on environment and development
1. To study of water resources in India (brundtland Commission) regarding that „sustainable
2. To analyze that sustainable development and water development‟ as “Developmentthat meets the needs of the
resources in India present without compromising the ability of future
3. To examine the water requirement and sectorial wise generations to meet their own needs”.
measurement in India.
The concept of sustainable development approved at the
METHODOLOGY UN conference on environment development in Rio de
Janeiro in 1992, has become majorstrategy for most
The present study is based on secondary sources of
countries. It is aimed at improving human life while
information. The secondary sources of information
preserving the environmental potential and allowing careful
gathered through journal articles, volumes, periodicals,
use of natural resources. Sustainable development can be
government reports and websites.
achieving by introducing progressive nature and energy
LIMITATION OF RESEARCH preserving technologies, while not depleting resources and
not pointing the environment.
The paper consists of the study in four sections. The
present section introduces various facets of the study in the WATER RESOURCES AND SUSTAINABLE
form of discussing the issues, objectives, methodology, and
DEVELOPMENT
sources of data collection. The second section focuses on
the various studies on water resources and sustainable University of Maryland School of Public Policy professor
development with the country. The third section is the and Former Chief Economist of the World bank Herman
water requirement and sectoral wise development in India. E,Daly Suggests the following three operational rules
Findings, suggestions, conclusions are discussed in the defining the condition of ecological sustainability:
fourth section and also summarizes the findings in a
1. Renewable resources such as fish, soil, and ground
nutshell and mentions and scope and habit of further
water must be used no faster than the rate at which
research in this field of inquiry and the limitation of the
regenerate.
study.`
2. Nonrenewable resources such as minerals and fossil
fuels must be used no faster than renewable
substitutes for them can be put into place.
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3. Pollution and wastes must be emitted no faster than One way to implement these rules is to consider how the
natural systems can absorb them, recycle them, or use of renewable resources can be compared to the rate of
render them harmless. renewal, as follows:
Consumption of renewable resources State of environment Sustainability
More than nature‟s ability to replenish Environmental degradation Not sustainable
Equal to nature‟s ability to replenish Environmental Equilibrium Steady-state sustainability
Less than nature‟s ability to replenish Environmental renewal Sustainable development
Source: Ethan Timothy Smith(2010) Water Resource Sustainability, Watershed Update, Vol.8, No.1, PP.2.
At the start of the new millennium the most highly will be Prospects of widening gaps between demand and
developed countries have succeeded in stabilizing the supply within Indians most populous water basins – the
ecological situation. This has been achieved through Ganga, the Krishna, and Indus by 2030 underpins the need
intense promotion of scientific and technical advances.. for robust monitoring and reporting of the ability of Indians
Most other countries are presiding with their wasteful water resource infrastructure to effectively respond to
extensive exploitation and sale of natural resources. future. Lastly our analysis of the state of corporate
government water resource reporting in India highlights a
MEASURES FOR WATER RESOURCES AND
lack of temporal measurement of water resource
SUSTAINABLE DEVELOPMENTIN INDIA
sustainability Indian‟s water economy.
The urgency of channeling more effort towards monitoring
The framework for water resources present status of
and reporting this aspect of water sustainability is
sustainable development shows how water policy is linked
heightened by the wide coverage of water infrastructure
to policies in other sectors including agriculture, industrial,
related Sustainable development Goals. A holistic approach
ecological and energy, health, transportation. The average
to measure the quality of water infrastructure in line within
annual water availability of region or country is largely
national and rural water resource objectives linked to
dependent upon hydro-metrological and geological factors
widening access to clean water resource and sanitation.
and generally constant. The average annual per capita water
Furthermore, demand on water infrastructure in India is set
availability in the year 2001 and 2011 was assessed as 1820
to increase, driven chiefly by rising domestic demand for
cubic meters and 1545 respectively which may reduce
rice, wheat and sugar within Indians rising population and
further to 1341 and 1140 in the years 2025 and 2050
shifting dietary trends towards middle class diets. There
respectively.
Table: 1, Estimates of Water resources in India
Estimating agency Estimate in BCM
First Irrigation Commission(1902-03) 1443
A.N.Khosla (1949) 1673
Central Water Power Commission(1954-66) 1881
National Commission on Agriculture 1850
Central Water Commission (1988) 1880
Central Water Commission(1993) 1869
*BCM=Billion Cubic Metre
Source: Government of India, Planning Commission, hydrological and other constraints;the utilizable water with
Eleventh Five Year Plan (2007-2012), Volume III,p.44. and conventional approach is 1137 BCM which comprises of
Dr.Chandra Shekhar Prasad and 690 BCM of replenish able ground water resources.
Dr.HimanshuShekhar(2013) Sixth Five Years of the Indian
PROJECTIONS OF WATER REQUIREMENTS OF
Economy 1947-48 to 2012-13, New Century Publications,
VARIOUS SECTORS OF THE INDIAN ECONOMY
New Delhi, P.82.
The projections of water requirement of various sectors of
Water resources in the country: as per assessment done by
the Indian economy periods. The estimates sectors of two
CWC in the year 2019, the average annual water resource
Committees, Standing Sub-committee of Ministry of water
of the river basins of India for the study period of 30years
resource and National Commission on Integrated Water
(1985-2015) has been assessed as 1999.20 BCM. The mean
Resource Development. Estimates of the sectors irrigation,
annual rainfall of the basins for the study period of 30 years
drinking water, Industry, Energy and others sectors
is 3880 BCM. It is estimated of that owning to topographic,
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Table: 2
Standing Sub-Committee of Ministry of Water Resources Estimate Report
Water Demand in Km3 ( or BCM)1
Year Irrigation Drinking water Industry Energy Others Total
2010 688 56 12 5 52 813
(85%) (7%) (1%) (1%) (6%) (100%
2025 910 73 23 15 72 1093
(83%) (7%) (2%) (1%) (7%) (100%)
2050 1072 102 63 130 80 1447
(74%) (7%) (4%) (9%) (6%) (100%)
Billion Cubic Meter(BCM)1
Source: Government of India, Planning Commission, Eleventh Five Year Plan (2007-12), Volume. III, P.46.
It can be observed from the table, 2 details of projections of water resource sector was 7 per cent in the year 2010 which
water requirements of various sectors of the Indian has constant 7 per cent the same 2025 and 2050
economy.Standing Sub-Committee of the Ministry of respectively. Further, The energy Sector estimate
Water Resources2, Estimate Report Water demand in Km3 committee was 1 per cent in the year 2010 and 1 per cent
(or BCM) such as Irrigation, Drinking water, Industry, from 9 per cent increased rapidly estimate from 2025 to
Energy and others estimated period from 2010 to 2050. 2050, respectively. Therefore, the other sectors estimate
Irrigation was estimated at 85 per cent in 2010. Whichever report was 6 per cent in the 2010 and future estimate have 7
estimates have been 83 and 74 per cent future estimate year per cent to 6 per cent will be decline from2025 to 2050
in the 2025 and 2050 respectively? Similarly, the drinking respectively
Table: 3
National Commission on Integrated Water Resources Development estimate Report
NCIWRD Water Demand in Km3 ( or BCM)1
Years Irrigation Drinking water Industry Energy Others Total
2010 557 43 37 19 54 710
(78%) (6%) (5%) (3%) (8%) (100%)
2025 611 62 67 33 70 843
(72) (7) (8%) (4%) (8%) (100%)
2050 807 111 81 70 111 1180
(68%) (9%) (7%) (6%) (9%) (100%)
Billion Cubic Metre(BCM)1
Source: Government of India, Planning Commission, Eleventh Five Year Plan (2007-12), Volume. III, P.46.
From the table -3, it‟s clear that the projections of water  In India, there are various faced by the challenges in
requirements of various sectors of the Indian economy. the water resource sector. In due to increasing water
National commission on integrated water resources water consumption and wastage in urban areas, water-
demand estimate from 2010 to 2050. The irrigation sectors borne disease, Industrial growth, political and
water resource demand in Kiloliter (or BCM) was 78 per regulatory dispute, water cycle imbalances,
cent in the year 2010, which declined water demand increasing irrigation and agriculture demand, lack of
estimation 72 per cent in the year 2025 and 68 per cent technology, etc.
2050. The drinking water resource was 6 per cent in the
SUGGESTIONS
estimation year 2010. This increased from 7 and 9 per cent
in the year 2025 and 2050 respectively. Similarly, the The following suggestions could be made from the
energy sectors water demand estimate was 3 per cent in the suggestions of the study.
year 2010. This will be increased by 4 and 6 per cent in the
 There is a need to improve water resource incentive
periods 2025 and 2050. The other sectors water demand
programs effectively and efficiently in sustainable
estimate was 8 per cent in the year 2010. Whichever
estimate 8 per cent constant will be increased 2025 and development.
2050 respectively.  There is a need the active participation of NGOs and
Government by the involvement of awareness of
FINDINGS water resources programs rural and urban areas.
From the about Discussion some of the important findings CONCLUSION
have been listed as fellows.
Inspire of these efforts “water for all” remains an
 The water resource is abundant in India and is being unfulfilled agenda of the government of India and state
used efficiently government. The existing water system effectively meets
the water needs of the economy and the inhabitants. Water
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is an inseparable natural resource on this earth. There
should be a precedence to preserve water resources. The
sustainability of water resources will determine the
wellbeing of people in the long run. Further, an attempt was
made to understand the condition of water resources and
sustainable development in India. It was to identify that
serious and truth full dimensions are required to conserve
the water resources in terms of quantity and quality.
REFERENCE
1. GayathriUnnikrishan (2016) Sustainable Development and Water
Resources in Kerala: An Overview, International Journal of
Advanced Research (IJAR), Vol.4, Iss.9, PP.158-160,
2. Jeffrey Love and Vince Luchsinger(2014) Sustainability and
Water Resources, Journal OF Sustainability and Green
Business,pp.1-12.
3. MubeenBeg,Sultan Singh and Salmaman Beg(2013) Role of
Society and Government in the Sustainable Development of water
resources of Hathras City: A Case Study, International Journal of
Environmental Science : Development and Monitoring
(IJESDM),Vol.4, No.3.
4. R.Warren Flint (2004) the Sustainable Development of Water
Resources, Universities Council on Water Resources, Water
Resource Update, Iss.127, PP.48-59.
5. Rob Koudstaal,et al (1992) Water and Sustainable Development,
Natural Resources Forum, Vol.16, Iss.4,PP.277-290.
6. Dr.ChandraShekhar Prasad, Dr.HimanshuShekhar(2013) Sixth
Five Years of the Indian Economy 1947-48 to 2012-13, New
Century Publications,New Delhi, P.78-91.
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CAUSALITY AMONG BANKING STOCK PRICES AND MACRO ECONOMIC
VARIABLES IN INDIA: A POST 2008 SUB-PRIME LENDING CRISIS
SCENARIO
* ** ***
Shukrant Jagotra Harpreet Singh Amanpreet Singh
*Research Scholar, School of Management Studies, Punjabi University, Patiala, Punjab, India
** Assistant Professor, School of Management Studies, Punjabi University, Patiala, Punjab, India
*** Assistant Professor, School of Management Studies, Punjabi University, Patiala, Punjab, India
ABSTRACT
Recent developments such as depreciation of Indian Rupee against US Dollar, demonetization adversely
impacting money supply, reductions in interest rates etc. have the potential to alter the previously
established relationship of stock prices with macroeconomic variables. The aim of the study is to
examine the causal relationship between Indian banking stock prices and macroeconomic variables
such as industrial production, inflation, money supply, exchange rate and interest rate. The study
considers monthly time series data from April 2009 to March 2018 i.e. the period post sub-prime lending
crisis to identify significant relationships. The study applies ADF, PP and KPSS tests to find presence of
unit root in data series at level but stationary at first difference. The study thus applies Granger’s
causality test on the first differenced variables and found strong unidirectional relationship from
banking stock prices to exchange rate and two weak unidirectional causal relationships from stock
prices to interest rates and from inflation towards stock prices.
Keywords: stock prices, macroeconomic variables, unit-root, Granger causality
INTRODUCTION LITERATURE REVIEW
The factors impacting the profitability of banks can be Gunasekarage et al. (2004) also examinedthe causal
broadly categorized as internal and external. Internal factors relationship between macroeconomic variables (money
include size of the bank, government ownership, deposits & supply, Treasury bill rate, consumer price inflation,
advances, non-performing assets, interest rate spread, exchange rate and US price index) with stock prices in Sri
operating efficiency, provision for credit losses, non- Lanka. The study found that their is significant impact of
interest expenses, commissions & fees among others. lagged values of consumer price inflation, money supply
External factors on the other hand comprise industry and Treasury bill on the Sri Lanka stock market.
(competitors, technology, taxation etc.) as well as Bhattacharya and Mukherjee (2006) examined the causal
macroeconomic variables (gross domestic product, relationship among stock prices in India and five
inflation, interest rates, money supply, foreign exchange macroeconomic variables.These macroeconomic variables
rate etc.).As stock prices reflects the curent value of all the were index of industrial production, money supply, national
future dividends derieved from profits, these factors impact income, interest rate and inflation rate. They used monthly
stock prices by altering these future cash flows. Of all the data from 1992 to 2001. The results of the study revealed
factors impacting stock prices of banks, macroeconomic and explained the existence of bidirectional causality
variables is of great interest to researchers.Although several between stock prices and inflation. Barbic and Jurkic
studies conducted in the past have focussed on developing (2011) conducted their study in selected CEE countries
the relationship between macroeconomic variables and (Croatia, Czech Republic, Hungary, Poland and Slovenia)
stock prices, very few have attempted to determine using Granger causality test. The study used inflation rate,
thecausal relationship with industry specific stocks. broad money supply, money market interest rate and
Moreover, most of the studies have also not taken the foreign currency reserves as crucial macroeconomic
impact of sub-prime lending crisis event of 2008 into variables. The study depicted that money supply as well as
account. Therefore, the goal of the present study is to foreign exchange lead stock prices in Czech Republic.
identify the causal relationship between banking stock Inflation as well as money market interest rate lead stock
prices in India and five macroeconomic variables including prices in Slovene,whereas stock prices lead money market
industrial production, inflation, money supply, exchange interest rate in Hungary and Czech Republic, foreign
rate and interest rate over a period of 9 years from April exchange reserves in Slovenia and money supply in Poland.
2009 to March 2018. The results of the study shall increase Naik and Padhi (2012) analysed the short and long-run
the available literature as well as provide recommendations causal relationship between the Indian stock market and
for policy makers, investors and academicians. macroeconomic variables by using data from April 1994 to
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June 2011. As per Granger causality analysis, the study Data Period -Selection of period of data to be considered
determined bidirectional causality between IIP and stock for the study involves choosing frequency as well as
prices whereas unidirectional causalities from stock prices duration of data. As the data for variables mentioned above
to WPI, money supply to stock prices, stock prices to is released on monthly basis, the study considered monthly
exchange rate and Treasury bill rate to stock prices. Dey data of all variables from the period April 2009 to March
(2013) examined the relationship of foreign exchange 2018 i.e. the period post subprime lending financial crisis.
rates& foreign exchange reserve with stock prices (S&P
Tools of Analysis –The study employs descriptive analysis
BSE Sensex) in India using monthly frequency data from
(mean, median, maximum, minimum, standard deviation,
March 1992 to June 2012. The study employed Granger
skewness, kurtosis etc.) to understand the general trend in
causality test and confirmed the presence of unidirectional
variables.Unit root tests viz. Augmented Dickey Fuller
causality from foreign exchange rate towards stock prices.
(ADF), Phillips-Perron (PP) and Kwiatkowski-Phillips-
Bhuvaneshwari and Ramya (2017) examined the causality
Schmidt-Shin (KPSS)are applied to analyze the stationarity
between stock prices and exchnage rate in India by taking
of data. If variables have unit root at level but become
monthly data from January 2006 to December 2015. They
stationary (no unit root) at first difference, then there might
analysed unit roots in the data set using ADF and PP tests
exist co-integration among them and thus causal linkage
and found data to be non-stationary at level and integrated
can be explored using Granger causality test. Developed by
of the first order. Using Granger causality test, the study
Granger in 1960, the study applies Granger causality test to
found evidence of bi-directional causality between
check the existence and direction of causality between non-
exchnage rate and stock prices in India.
cointegrated variables (Granger, 1969).
RESEARCH METHODOLOGY
RESULTS AND DISCUSSION
Objective of the Study–To identify the Granger causal
Descriptive Analysis – A wide difference between the
relationship betweenbanking stock prices in India
minimum and maximum values of the variables is seen
andmacroeconomic variables.
suggesting that the value for the variables have been
Variables – The study selected five macroeconomic fluctuating during the period considered i.e. April 2009 to
variables viz. industrial production, rate of inflation, money March 2018. Index of industrial production (0.210), broad
supply, interest rate and exchange rate as independent money supply (0.067) and BSE Bankex (0.613) are found
variables. Construction of variables involves the selection to be positively skewed while rest of the variables are found
of proxies to be used for variables. For instance, money to be negatively skewed. With respect to the curvature of
supply is one variable but proxy for the same needs to be data series, all variables except call money rate are found to
chosen from M1, M2, M3 or M4 depending upon the be platykurtic. Call money rate on the other hand is found
objectives of the study as well as previous literature. Data to be leptokurtic with a value of 3.03. Thus, as per
consistency is another factor to be considered while parameters of skewness, kurtosis and Jarque-Bera the data
selecting proxies for variables. The study used index of is not found to be normal.
industrial prodiction, wholesale price inflation, broad
Unit Root Tests–While the null hypothesis for ADF and
money supply, foreign exchange of India Rupee per US
PP tests are identical i.e. variable is non-stationary at level,
dollar and call money rate as proxies for above variables.
the null hypothesis for KPSS test is the opposite i.e.
variable is stationary at level.
Table 1 - Unit Root Tests for Stationary
ADF Test PP Test KPSS Test
Variables H0: Variables is non- H0: Variables is non- Level of Stationary
H0: Variables is stationary
stationary stationary
LnBSP 1.840 1.978 1.107*
1st
ΔLnBSP -11.033* -11.106* 0.135
LnIIP 3.866 3.161 1.280*
1st
ΔLnIIP -2.157** -27.259* 0.188
LnWPI 2.400 3.255 0.958*
1st
ΔLnWPI -5.070* -5.025* 0.804*
LnM3 10.331 10.141 1.179*
1st
ΔLnM3 -0.882** -6.396* 0.336
LnER 1.165 1.157 1.059*
1st
ΔLnER -7.759* -7.620* 0.143
CMR 0.219 0.139 0.312**
1st
ΔCMR -7.979* -8.183* 0.443***
*, ** and *** denotes significance at 1%, 5% and 10% level respectively
Δ represents first difference
Where, BSP, IIP, WPI, M3, ER and CMR refer to Banking Stock Prices, Index of Industrial Production, Wholesale Price Inflation, Broad Money
Supply, Exchnage Rate and Call Money Rate respectively.
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On the basis of these three tests, both dependent and results due to the influence of such older values on the
independent variables are not stationary at level. However current value. The study thus considers 2 lags as per
when changed to first difference, all variables become sequential modified LR statistic and final prediction error
stationary i.e. all variables are said to be integrated of the criterion as an input for applying Granger causality test.
first order. Therefore, Granger causal analysis can be
Granger Causality Test–The table below highlights the
applied after converting the series into first difference.
results of Granger causality test conducted between
Lag Order Selection Criterion – Optimal lags act an banking stock prices in India and macroeconomic variables
important input while running Granger causality analysis. by converting the data series into first difference. The null
The study applies unrestricted VAR model to identify the hypothesis (first variable in the pair does not Granger cause
ideal number of lags using lag length criteria. As per the the other) is strongly rejected for causality from BSP to ER
results, Schwarz information criterion indicate the number as the F-statistic 12.753 is significant at 1% level. Instead,
of lags as 0 while the Hannan Quinn information criterion the alternative hypothesis is accepted i.e. banking stock
indicate the number of lags as 1. The study rejects the prices in India Granger causes exchange rate. There are
results from SIC and HQIC as it is recommended to take at another two weak causalities from banking stock prices
least 2 lags if the number of observation exceeds 100 to get towards call money rate (F-statistic 2.772) and from
reliable results. Moreover it also argued that SIC does not wholesale price inflation towards banking stock prices (F-
give reliable results in large samples and performs statistic 2.350) significant at 10%. As the p-value for both
consistently only in case of small samples (Pesaran and causalities is above 0.05 but lesser than 0.10, the
Shin, 1998). Akaike information criterion on the other hand relationship is considered as a weak causality. However, the
estimates the number of lags as 8. Taking very high number possibility of bidirectional causal relationship is ruled out
of lags is also not recommended as it leads to spurious completely.
Table 2 - Granger Causality Analysis

Pairwise Granger Causality Test
Lags 2
Null Hypothesis F-Statistic Probability
IIP does not Granger Cause BSP 0.144 0.865
BSP does not Granger Cause IIP 1.362 0.260
WPI does not Granger Cause BSP 2.350 0.100***
BSP does not Granger Cause WPI 0.576 0.563
M3 does not Granger Cause BSP 0.141 0.868
BSP does not Granger Cause M3 0.351 0.704
ER does not Granger Cause BSP 0.607 0.546
BSP does not Granger Cause ER 12.753 0.001*
CMR does not Granger Cause BSP 1.106 0.334
BSP does not Granger Cause CMR 2.772 0.0673***
*, ** and *** denotes significance at 1%, 5% and 10% level respectively
As per the results, there exists a unidirectional causality Wholesale price inflation however acts as a leading
from banking stock prices towards exchange rate at 5% indicator of banking stock prices strengthening the case that
significance level. This strengthens the belief that indian equity acts as a headge against inflation and therefore
equity has a significant effect on the value of exchange rate changes in inflation impacts stock prices. These significant
and is a leading indicator for the same. Symth & Nandha results confirm the argument that stock prices act as a
(2003), Pan et al. (2007), Asaolu & Ogunmyiwa (2010), leading economic indicator in most cases as it imbibes the
Mahedi (2012) and Tuncer et al. (2014) also established expectations of the investors.
similar causal relationship between exchange rates and
Stability Analysis – Testing the model for stability is
stock prices. The study also established a weak causality
critical for getting reliable results from variance
from banking stock prices towards call money rate
decomposition and impulse response function. The results
suggesting that changes in banking stock prices shall
are mentioned as below.
influence the monetary policy that includes interest rates.
Table 3 - Roots of Characteristic Polynomial

Lag specification: 1 2
Root Modulus
0.610051 0.610051
-0.407857 – 0.432408i 0.594410
-0.407857 + 0.432408i 0.594410
0.067371 – 0.502839i 0.507332
0.067371 + 0.502839i 0.507332
0.268534 – 0.424518i 0.502320
0.268534 + 0.424518i 0.502320
0.372821 0.372821
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-0.169852 – 0.298613i 0.343540
-0.169852 – 0.298613i 0.343540
-0.305194 0.305194
-0.080297 0.080297
No root lies outside the unit circle
VAR satisfies the stability condition
Therefore, as it can be inferred from the table above, the the unit circle. The same is represented in the figure below.
modulus of all the roots is less than one and lying within
Figure 1: Inverse
Inverse Roots
Roots of
ofAR
ARCharacteristic
CharacteristicPolynomial
Polynomial
1.5
1.0
0.5
0.0
-0.5
-1.0
-1.5
-1 0 1
CONCLUSION AND IMPLICATIONS REFERENCES

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3. Barbić, T., and Čondić-Jurkić, I. (2011). Relationship between
was integrated of the first order. As per the results from macroeconomic fundamentals and stock market indices in selected
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including investors, policy makers and academicians. For
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ANALYSIS OF VARIOUS MACHINE LEARNING ALGORITHMS FOR
HEART DISEASE PREDICTION
*
Ravi Choubey **Pratima Gautam
*
Research Scholar, RNTU University Raisen, New Housing Board Colony Barwani, Madhya
Pradesh.
**
Dean at Department Of CS and IT, RNTU UNIVERSITY Raisen, Near Mendua , Bhopal Raisen
Road , Raisen
ABSTRACT
The data mining is the approach which can process information which is present in large scale. The
prediction analysis is the method of data mining to predict future possibilities based on current
information. The heart disease prediction is the approach which can predict future heart disease
possibilities based on the current information. The various heart disease prediction techniques are
reviewed in this paper. It is analyzed that supervised machine learning algorithms are the best
performing algorithm for the heart disease prediction.
Keywords
Heart Disease, Prediction, Machine learning, Supervised learning
1. INTRODUCTION predictions. These schemes and predictive frameworks are
adaptable to carry out the forecasting related to the
The major health issue is HD and it has affected a number
occurrence of HD in patient in near future
of people worldwide. In recent times,heart disease becomes
accurately.TheHD predictive model planned on the basis of
the major reason of death among people of age groups.
DM has included a number of stages. The initial stage of
Therefore, the enhancement for predicting the heart attack
selecting the data had involved the collection of data from
is required in the health sector with the help of different DL
diverse sources in order to perform predictive analysis.The
methods.The commonly seen symptoms of cardiac disease
gathered data have contained a number of attributes as risk
arebreath shortness, physical body illness and swelling in
factors like Diabetes, cholesterol,BP etc. Each risk factor
feet are swollen.Researchers make an attempt for
plays a considerable role to predict the cardiac illness.
discovering an effective method so that the heart disease
Some diagnostic parameters are comprised in the data set
can be detected because the existingdiagnosis methods of
from which the patient is classified as normal or having
heart disease are less efficient in early time identification.
HD. The gathered data often have various outliers and
There are various reasonsbehind this including accuracy
missing values. The availability of missing values and
and execution time. The precise and accurate detection of
outliers in the real dataset lays a great impact on the
cardiac illness is relied on the earlier knowledge and
accuracy and efficacy of the classification algorithm at a
information regarding the pathological events [1].
large extent due to which unreliable and inappropriate
Therefore, there is a necessity of monitoring certain body
output are maximized. Removing outlier and missing
metrics like BP,cholesterol, diabetes etc. in all aspects of
values from the gathered data is not so easy. Data pre-
the patient who suffers from HD. These variables are
processing is obligatory for representing data efficiently
independent and assist in selecting the finest AI and ML
and machine learning classifier which ought to be trained
systems.
and tested in a competent way [3]. Pre-processing step is
The conventional techniques face difficulty in the analysis concerned with applying several pre-processing methods on
of enormous volume of medical data which is obtained the input data for making it complete. This step analyzes
from thehealthcare devices due to its large size and data meaningfully and provide optimal outcomes. Pre-
complexity. The DM technique is utilized to investigate the processing schemes such as removing of missing values,
earlier unknown patterns and trends in databases and standard scalar, and MinMax Scalar are generally
employ that information for constructing theprediction implemented to the dataset for efficient application in the
models.A set of comparatively enhanced resources is classifier models. The standard scalar guarantees that each
offered through the DM to improvethe sensitivity and feature has the mean 0 and variance 1, brings all features to
specificity while detecting and diagnosing the diseases.The the similar coefficient. MinMax Scalar approach, in the
concealed patterns and relationships are extracted from the same manner, shifts the data to bring all features between 0
huge database by integrating the ML, statistical analysis and 1 [4]. Feature selection step is essential for the machine
and database technology in DM approach [2]. The DM learning process because occasionally redundant features
schemes assist the physicians in generating thefuture influence the classification efficiency of the machine
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learning classifier. This step optimizes the classification validation. The validation phase is concerned with
accuracy and decreases the execution time of the applied evaluating the performance of the predictive machine
classifier model. Some commonly used feature selection learning models so that their strength for generalized
algorithms are Relief Feature Selection Algorithm, prediction can be validated. The validation phase
Minimal-Redundancy-Maximal-Relevance Feature contributes significantly to ensure that the prediction
Selection Algorithm (mRMR), and Least Absolute models do not overfit the training data. Cross validation is
Shrinkage and Selection Operator. In Relief algorithm, one of the most widely applied processes for validating the
weights are assigned to all features in the dataset and these model’s performance based on the original dataset.
weights may be updated as the time passes. The priority is
2. LITERATURE REVIEW
given to features having high weight values, while the
remaining ones are less prioritized. This algorithm makes Senthilkumar Mohan, et.al (2019) suggested a new
use of the same approach as in K-NN that decide the technique named HRFLM utilized to discover a valuable
weights of features. In mRMR algorithm, features related to attribute with the implementation of ML schemes [8]. The
the target label are selected [5]. The chosen features could hybrid RF was integrated with the LM. This technique led
be irrelevant variables which must be managed. This to enhance the accuracy while predicting the heart disease.
algorithm applies Heuristic search approach and chooses The predictive model was presented by incorporating
best features that have greatest significance and least attributes and various classification methods. An improved
redundancy. It validates one feature at a cycle and measures performance level with 88.7% accuracy was obtained from
redundancy of every pair. The mRMR does not consider the suggested technique. Additionally, the suggested
the joint association of attributes. In the third stage, technique was shown appropriate for predicting the heart
different classification models are applied for generating disease.
generalized predictions regarding the risk of heart diseases.
Some popular classification models include ANN, random SanchayitaDhar, et.al (2018) intended a hybrid approach in
forest, SVM, Naïve Bayes, decision tree, logistic regression order to predict the heart disease in which RF and simple
K-Means classification algorithms were deployed [9]. Two
etc.A logistic regression is a classification algorithm. For
different ML techniques known as J48 tree and NB
binary classification issue, the value of predictive variable
classification algorithms were also utilized for computing
y is predicted when y ∈ [0, 1]. Here, 0 and 1 represent the
the data set. The comparison of outcomes was also done. A
negative class and positiveclass respectively. This
number of performance parameters were applied for the
algorithm applies multiclassification for predicting the
quantification of this approach. The outcomes indicated
value of y when y ∈ [0, 1, 2, 3] [6]. Naive Bayes is a
that the intended hybrid approach was robust.
supervised classification algorithm. This algorithm depends
on conditional probability theorem for determining the Abdelmegeid Amin Ali, et.al (2020) introduced a method
class of a fresh feature vector. This classifier applies the known as CNN-GRU [10]. This method emphasized on
training dataset for finding the conditional probability value presenting an optimal ML approach that provided greater
of vectors for a specified class. Once the probability accuracy for predicting the cardiac disease. The significant
conditional value of all vectors has been measured, the attributes were extracted from the data set using LDA and
class of new vectors is computed according to its PCA. These extracted attributes were considered in order to
conditionality probability. This algorithm is generally compare the introduced method with different ML
applied for text-based classification issue. The artificial algorithms. The accuracy was improved with the execution
neural network is a supervised machine learning algorithm. of K-fold cross-validation. The outcomes demonstrated that
In fact. It is a mathematical model that integrates neurons the precision obtained from the introduced approach was
that transfer messages. This classifier model has three calculated 94.5% in comparison with other methods.
major elements such as inputs, outputs, and transfer
Anna Karen Gárate-Escamila, et.al (2020) emphasized on
functions. The input units accept unusual values and
weights. These values and weights are improved in the deploying a CHI with PCA for the enhancement of
course of network training. The outcome of the ANN is predictive accuracy of ML algorithms [11]. The
measured for the given class; the weight is remeasured by classification approach had a major purpose to predict that
the error margin amid the output of predicted and original the patient was suffered from cardiac disease or not. The
dimensionality reduction methods were applied for
class. This classifier model is constructed by integrating
enhancing the outputs of raw data. The presented CHI-PCA
neurons. A `decision tree is a supervised machine learning
algorithm. The configuration of a decision tree is similar to technique with Random Forest had performed efficiently
a normal tree. In DT, every node refers to a leaf node or while predicting the heart disease. The predictive accuracy
decision node [7]. The decision tree algorithms are quite on Cleveland dataset was computed 98.7% and accuracy
simple and logical in decision-making. A decision tree for Hungarian was 99.0%. It was analyzed that the
presented approach provided the consistency and proved as
consists of internal and external nodes connected with each
other. The internal nodes efficient take part in the decision- preferable technique.
making and the child node visits the next nodes. However, InduYekkala, et.al (2017) recommended different ensemble
the leaf node has no child nodes and is assigned with a techniques along with feature selection algorithm namely
label. The last phase in heart disease prediction is result PSO for forecasting the occurrence of heart diseases for a
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specific patient in accurate way [12]. The least ranked These algorithms were useful for increasing the accuracy of
attributes were mitigated using Particle Swarm prediction. The performance of the established algorithm
Optimization (PSO). Afterward, the ensemble techniques was computed on heart disease data suite taken from the
namely Bagged Tree, RF and AdaBoost were employed as UCI repository. There were 76 attributes contained in this
a classification so that the misclassification rate was data set. The established approach was compared with the
decreased and the classification performance was existing technique concerning certain metrics including
enhanced. The medical practitioners obtained the assistance accuracy, error recognition rate and execution time.
for predicting and earlier diagnosing of heart diseases in
Xu Wenxin, et.al (2020) projected a novel technique of
accurate manner with the implementation of a subset of
predicting heart disease on the basis of ensemble model in
attributes. The outcomes of experiment depicted that the
which SVM, DT and ANN were integrated [14]. The
greater accuracy was attained through the Bagged Tree and
processing of publically available data set taken from UCI
PSO.
was done and it was utilized in the integrated model and 3
MohiniChakarverti, et.al (2019) established an approach in individual models. Different parameters were utilized to
which K-Means algorithm and SBM classifier were compute the forecasting impact. The outcomes exhibited
employed depending on the prediction analysis methods in that the projected model performed more efficiently in
order to predict the heart disease [13]. The BP algorithm contrast to 3 independent models for predicting the heart
was applied with K-Means to cluster the information. disease.
COMPARISON TABLE
Author Year Description Outcome
Senthilkumar Mohan, 2019 Suggested a new technique named HRFLM utilized An improved performance level with 88.7% accuracy
ChandrasegarThirumalai, to discover a valuable attribute with the was obtained from the suggested technique.
Gautam Srivastava implementation of ML schemes. The hybrid RF was Additionally, the suggested technique was shown
integrated with the LM. This technique led to enhance appropriate for predicting the heart disease.
the accuracy while predicting the heart disease.
SanchayitaDhar, Krishna 2018 Intended a hybrid approach in order to predict the The comparison of outcomes was also done. A
Roy, TanusreeDey, heart disease in which RF and simple K-Means number of performance parameters were applied for
PrithaDatta, Ankur classification algorithms were deployed. Two the quantification of this approach. The outcomes
Biswas different ML techniques known as J48 tree and NB indicated that the intended hybrid approach was robust.
classification algorithms were also utilized for
computing the data set.
Abdelmegeid Amin Ali, 2020 Introduced a method known as CNN-GRU. This The accuracy was improved with the execution of K-
Hassan Shaban Hassan, method emphasized on presenting an optimal ML fold cross-validation. The outcomes demonstrated that
Eman M. Anwar approach that provided greater accuracy for the precision obtained from the introduced approach
predicting the cardiac disease. The significant was calculated 94.5% in comparison with other
attributes were extracted from the data set using LDA methods.
and PCA.
Anna Karen Gárate- 2020 Emphasized on deploying a CHI with PCA for the The predictive accuracy on Cleveland dataset was
Escamila, Amir Hajjam enhancement of predictive accuracy of ML computed 98.7% and accuracy for Hungarian was
El Hassani, Emmanuel algorithms. The classification approach had a major 99.0%. It was analyzed that the presented approach
Andrès purpose to predict that the patient was suffered from provided the consistency and proved as preferable
cardiac disease or not. technique.
InduYekkala, Sunanda 2017 Recommended different ensemble techniques along The medical practitioners obtained the assistance for
Dixit, M. A. Jabbar with feature selection algorithm namely PSO for predicting and earlier diagnosing of heart diseases in
forecasting the occurrence of heart diseases for a accurate manner with the implementation of a subset of
specific patient in accurate way. The least ranked attributes. The outcomes of experiment depicted that
attributes were mitigated using Particle Swarm the greater accuracy was attained through the Bagged
Optimization (PSO). Tree and PSO.
MohiniChakarverti, 2019 Established an approach in which K-Means algorithm There were 76 attributes contained in this data set. The
Saumya Yadav, Rajiv and SBM classifier were employed depending on the established approach was compared with the existing
Rajan prediction analysis methods in order to predict the technique concerning certain metrics including
heart disease. The BP algorithm was applied with K- accuracy, error recognition rate and execution time.
Means to cluster the information.
Xu Wenxin 2020 Projected a novel technique of predicting heart Different parameters were utilized to compute the
disease on the basis of ensemble model in which forecasting impact. The outcomes exhibited that the
SVM, DT and ANN were integrated. The processing projected model performed more efficiently in contrast
of publically available data set taken from UCI was to 3 independent models for predicting the heart
done and it was utilized in the integrated model and 3 disease.
individual models.
CONCLUSION pre-processing, feature extraction and classification. The

various machine learning techniques are reviewed in this
In this work, it is concluded that various techniques are
paper and in future hybrid machine learning algorithm
proposed for the heart disease prediction. The heart
will be designed for the heart disease prediction.
disease prediction technique have various phases like
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REFERENCES
1. D. Ratnam, P. HimaBindu, V. MallikSai, S. P. Rama Devi and
P. Raghavendra Rao, “Computer-Based Clinical Decision
Support System for Prediction of Heart Diseases Using Naïve
Bayes Algorithm”, 2014, International Journal of Computer
Science and Information Technologies, vol. 5, no. 2, pp.2384-
2388
2. T. Santhanam and E. P. Ephzibah, “Heart Disease Prediction
Using Hybrid Genetic Fuzzy Model”, 2015, Indian Journal of
Science and Technology, vol.8, no. 9, pp.797–803
3. G. Purusothaman and P. Krishnakumari, “A Survey of Data
Mining Techniques on Risk Prediction: Heart Disease”, 2015,
Indian Journal of Science and Technology, vol. 8, no. 12
4. K. Srinivas, G. RaghavendraRao and A. Govardhan, “Analysis
of Coronary Heart Disease and Prediction of Heart Attack in
Coal Mining Regions Using Data Mining Techniques”, 2010,
Proceedings of 5th International Conference on Computer
Science & Education, China, pp. 24–27
5. K. Thenmozhi and P. Deepika, “Heart Disease Prediction Using
Classification with Different Decision Tree Techniques”, 2014,
International Journal of Engineering Research and General
Science, vol. 2, no. 6, pp.6-11
6. S. Chaitrali, Dangare and S. Apte, “Improved Study of Heart
Disease Prediction System using Data Mining Classification
Techniques”, 2012, International Journal of Computer
Applications, vol. 47, no. 10, pp. 0975 –888
7. J Peter and K. Somasundaram, “An Empirical Study on
Prediction of Heart Disease Using Classification Data Mining
Techniques”, 2012, Proceedings of IEEE International
Conference on Advances in Engineering, Science and
Management (ICAESM), pp. 514-518
8. Senthilkumar Mohan, ChandrasegarThirumalai, Gautam
Srivastava, “Effective Heart Disease Prediction Using Hybrid
Machine Learning Techniques”, 2019, IEEE Access
9. SanchayitaDhar, Krishna Roy, TanusreeDey, PrithaDatta,
Ankur Biswas, “A Hybrid Machine Learning Approach for
Prediction of Heart Diseases”, 2018, 4th International
Conference on Computing Communication and Automation
(ICCCA)
10. Abdelmegeid Amin Ali, Hassan Shaban Hassan, Eman M.
Anwar, “Heart Diseases Diagnosis based on a Novel
Convolution Neural Network and Gate Recurrent Unit
Technique”, 2020, 12th International Conference on Electrical
Engineering (ICEENG)
11. Anna Karen Gárate-Escamila, Amir Hajjam El Hassani,
Emmanuel Andrès, “Classification models for heart disease
prediction using feature selection and PCA”, 2020, Informatics
in Medicine Unlocked
12. InduYekkala, Sunanda Dixit, M. A. Jabbar, “Prediction of heart
disease using ensemble learning and Particle Swarm
Optimization”, 2017, International Conference On Smart
Technologies For Smart Nation (SmartTechCon)
13. MohiniChakarverti, Saumya Yadav, Rajiv Rajan,
“Classification Technique for Heart Disease Prediction in Data
Mining”, 2019, 2nd International Conference on Intelligent
Computing, Instrumentation and Control Technologies
(ICICICT)
14. Xu Wenxin, “Heart Disease Prediction Model Based on Model
Ensemble”, 2020, 3rd International Conference on Artificial
Intelligence and Big Data (ICAIBD)
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A STUDY ON AWARENESS LEVEL OF PRADHAN MANTRI MUDRA
YOJANA IN SHIVAMOGGA DIST. KARNATAKA
* **
Anjesh H L Veershetty G Rathod
*
Research Scholar, Department of Commerce, Sahyadri Commerce & Management College,
Shivamogga, Kuvempu University, Karnataka.
**
Assistant Professor, Department of Commerce, Sahyadri Commerce & Management College,
Shivamogga, Kuvempu University, Karnataka.
ABSTRACT
Micro units consist of various small scale activities. These units are known as the Non-corporate small
business sector.This sector facing many challenges like shortage of funds, limited access to equity
capital, lack of technology and among the biggest bottleneck of this sector is the week institutional
financial support. In order to eliminate the financial difficulties faced by Micro entrepreneurs, the
Central Government launched the Schemecalled Mudra to funding the unfunded.The present research
has been taken to study the current knowledge, awareness, and source of awareness of about PMMY
scheme among its beneficiaries. The primary data were collected from 50 beneficiaries of Mudra scheme
through questionnaire in Shivamogga district and secondary data from Mudra Website. The data was
analyzed through SPSS by using statistical tools like frequency, percentage and t-test is used to test the
hypothesis. The finding of the study waslow level of awareness about PMMY scheme among its
beneficiaries and majority of 36% of respondent’s source of awareness is from relatives & friends.
Keywords:Knowledge, Awareness, Micro enterprises, PMMY.
1. INTRODUCTION MUDRA OFFERINGS
In any developing country havinghuge population like 1. Refinance support through Banks/ MFIs/NBFCs
India, Micro enterprises plays an vital role in contributing
Shishu Up to 50,000
to National Gross domestic product but also providing
employment opportunities to a huge number of people at Kishore 50,001 to 5, 00,000
comparatively less capital than large Industries. It also
Tarun 5, 00,001 to 10, 00,000
helps in industrialization of backward andrural areas and
assuring more equitable distribution of national income and 2. Overdraft facility
wealth(Anup Kumar Ray 2016).Micro units consists of
various small scale activities like tailors, vegetable and In addition, the overdraft amount of rupees 5000 sanctioned
fruits sellers, food-service units, welding units, weaving under PMJDY has been also classified as a Mudra loan.
units, khadi and cottage industries, beauty parlors, printing 3.Micro Credit Scheme: In this scheme loan has provided
units, petty traders, kirana stores, pisciculture, Bee keeping, up to one lakh rupees is through Micro Finance Intuitions
poultry farming, etc., These units are jointly known as the for various micro enterprises. Model of providing loans
Non-corporate small business sector.(Annual report Mudra may be through Self-help groups/ Joint Liability groups/
2015-16). Individuals.
These bottom of the pyramid, hardworking entrepreneurs 4. Mudra Card: A debit card provided to Mudra loan
continuously facing many challenges shortage of funds, account, for availing working capital loans. Therefore
Limited access to equity capital, lack of Technology and loanee has to manage the working capital limit in cost-
lack of infrastructure facilities and the biggest bottleneck of efficient manner and keep the interest burden minimum.
this sector is the week institutional financial support. In
order to eliminate the financial difficulties faced by Micro 2. REVIEW OF LITERATURE
entrepreneurs, the Central Government launched the Ravi R (2014) in this article researcher focuses on realizing
Scheme called Mudra to funding the unfunded. Access to the importance of small business. The objectives of the
institutional finance could potentially turn these micro study were to analyze the effects of micro-financing on
entrepreneurs‟ into strong instruments of Gross domestic MSEs Growth and expansion capacity in India. The author
product growth and creation of employment opportunities concludes that the survival of MSEs depends on largely on
in the country. whether the enterprises are able to generate profit from the
use of micro funds and easy access to micro credit. It also
depends on regular participation of entrepreneurs in
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microfinance programmes; and whether entrepreneurs are Sonu (2018) overviewed how MUDRA scheme helps for
able to convert the profits made in a particular year to new entrepreneurs. The important suggestions is besides
further investments. the credit constraints, new entrepreneurs face many non-
credit challenges MUDRA will have to facilitate other
Venkatesh J (2015)in this article author describes that the
developmental and support services to the target audience,
MSMEs plays a Vitol role in the emergence of Indian
in addition to meeting their credit needs
economy. The development of these units is extremely
critical to meet the national imperatives of financial 3. OBJECTIVES
inclusion and generation of significant levels of
1. To analyze the awareness level about PMMY scheme.
employment opportunities across rural and urban areas
across the country. Indian MSMEs sectors a reality by 2. To know the source of awareness about PMMY scheme.
launching a dedicated bank for MSMEs sector is known as
Mudra Bank. Will spur the growth of Indian MSMEs sector 4. HYPOTHESIS
and help them increase their contribution to Indian GDP H0:“There exists a low level of awareness about PMMY
from its current level of 38%. The paper highlights the scheme among its beneficiaries”
significance and the importance of Mudra bank towards
MSME sector. H1: “There exists a high level of awareness about PMMY
scheme among its beneficiaries”
Ashish (2016)in this article author has made an attempt to
learn about the Mudra Yojana key objectives. The main 5. RESEARCH METHODOLOGY
objective of this paper is to find out the Mudra scheme Source of data
products and its impact on Indian small business owners and
Self Employment and analysis of performance of Pradhan The primary data is collected through questionnaire/
mantri Mudra Yojana. the main findings and conclusion is Interviews with beneficiaries of Mudra Scheme .The
the Mudra scheme is trying to its best to improve the status questionnaire will consist of a five point scale (Likert's
of women and other backward sections of the country scale)and secondary data are collected from journals,
especially those who are not well educated and Semiskilled. newspapers, magazines, Mudrawebsites, Mudrareports
Its impact in developing strong economy will be seen in the andbulletins, etc.
coming years. Sampling
Shenti (2017)in this article the author concluded that mudra A simple random sampling method was employed for
as a financial tool is found very potential in its initial stages selecting a representative sample from beneficiaries of
across the country. The Mudra Yojana will definitely make a Mudra Scheme in Shivamogga District. A total of 50
dramatic change and will help in making a developed India. respondents were taken for the study.
Ali. M.S (2019)author discuss about salient features of Statistical tools and techniques:
MUDRA loan scheme, procedure for loan sanction by bank
under MUDRA scheme, achievements or milestones under The analyses of Survey data is with the help of Microsoft
MUDRA loan scheme, NPAs in MUDRA scheme, etc., is Excel and SPSS. The statistical analysis used includes
explained. The important aspect of the study is to examine frequencies, percentages, and t-test is used to test the
the banker's perspective with special reference to problem hypothesis.
faced by them in managing MUDRA lending. The Reliability Analysis
suggestion given by author is for assessment of credit needs
it should be mandatory for them submit the audited The Reliability test was conducted to ensure the validity of
financial statements and to calculate financial ratio while the instrument. The reliability analysis shows Cronbach‟s
providing working capital and term loans under MUDRA Alpha is 0.823 and Number of items 10 which was
scheme. considered as good enough. The „α' score indicates that the
tool is reliable.
6. RESULTS AND DATA ANALYSIS
Table -1 Demographic details of Respondents
Variable Frequencies Percentages
Gender Male 41 82
Female 9 18
Total 50 100
Age 18-30 years 27 54

31-40 years 14 28
41-50 years 6 12
51-60 years 1 2
60& above 2 4
Total 50 100
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Education Illiterate 6 12
Primary 11 22
High School 8 16
PUC/ ITI 6 12
Graduate 9 18
Post-Graduate 10 20
Total 50 100
Social Group SC 6 12
ST 7 14
OBC 28 56
Minorities 4 8
Others 5 10
Total 50 100
Nature of Establishment Proprietorship 34 68

Partnership 3 6
Private limited company 6 12
Self-help groups 3 6
Others 4 8
Total 50 100
Broad Economic Activity Manufacturing 6 12

Services 17 34
Allied agriculture 9 18
Trading 18 36
Total 50 100
Source: Survey data.
From the table one showsthe Demographic details of graduate holders it indicates that young entrepreneurs are
beneficiaries 82% of respondents were Male and 18% of aware about Mudra scheme.56% were OBC beneficiaries
respondents are female were aware of Mudra Scheme. and remaining 26% were SC/STs. Majority 68% were
Majority 54% of the respondents were 18 to 30 years age Proprietorship these indicates that Own account Enterprises
group and 28% of the beneficiaries were 31to 40 yearsage are more in the study.36% of respondents were trading
group are aware about Mudra Scheme.22% of respondents background and 34% of respondents were services activity.
were primary education and 20 % of respondents were post
Table-2: Knowledge andAwareness level of PMMY scheme
Not at all Slightly Somewhat Moderately Extremely
Sl Factors Total
aware aware aware aware, aware
Do you know the concept of Mudra N 7 19 15 7 2 50
1
Scheme % 14 38 30 14 4 100
Are you aware about objectives of Mudra N 4 13 17 10 6 50
2
scheme % 8 26 34 20 12 100
Do you know the products available in N 8 11 12 12 7 50
3
Mudra Scheme % 16 22 24 24 14 100
N 3 12 9 19 7 50
4 Are you aware about interest rates
% 6 24 18 38 14 100
Are you aware about website of Mudra N 4 16 9 13 8 50
5
scheme % 8 32 18 26 16 100
Are you aware about Mudra Over draft N 11 19 8 13 9 50
6
Facility % 22 18 16 26 18 100
Are you aware about Mudra Debit cum – N 7 17 6 10 10 50
7
ATM card % 14 34 12 20 20 100
Are you aware about Documents required N 10 9 11 14 6 50
8
for availing loans under Mudra scheme % 20 18 22 28 12 100
Are you aware about udyamimitra.org.in N 5 14 10 12 9 50
9
to avail loans from the online website % 10 28 20 24 18 100
1 Do you know the repayment procedure of N 3 9 15 12 11 50
0 Mudra Scheme % 6 18 30 24 22 100
Source: Survey data
From the above table two analyzes the Knowledge 14% of respondents Not at all aware the concept of Mudra
andAwareness level of PMMY scheme about various Scheme.34% of respondents Somewhat aware, 26%
factors among its beneficiaries, 38% of respondents respondentsof Slightly awareand 8% of respondents Not at
Slightly aware ,30% respondents Somewhat aware and all aware about objectives of Mudra Scheme.24% of
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respondents Somewhat aware, 24% respondentsof overdraft facility of Mudra scheme and 22% of respondents
Moderately aware and 16% of respondents Not at all aware are not at all aware about overdraft facility. 34% of
about Product available in Mudra Scheme. Almost 38% of respondents were slightly aware, 40 of respondents were
respondents were moderately aware and only 6% of aware and 14 % of respondents were not at all aware about
respondents are not at all aware about the interest rates. Mudra Debit cum – ATM card. . 40% of respondents are
Only 16% of respondents were aware about website of aware, 22% of respondents somewhat aware and 20% of
Mudra scheme and 40% of respondents are not aware respondents are not at all aware about Documents
website of Mudra scheme. 42% of respondents are aware of requisition.
Table-3: Source of awareness about Mudra Scheme

Source Frequency Percentage
Newspaper 9 18
Banks correspondents/ Banks 13 26
Relatives & Friends 18 36
Television/ Media 2 4
Self-help groups 1 2
Grampanchayats 1 2
NGOs 1 2
Municipality 5 10
Total 50 100
Source: Survey data
From the above table three depicts source of awareness of awareness is from newspaper, 10 % of respondents
about Mudra scheme, Majority of 36% of source of awareness is from municipality office, 4% of
respondent‟ssource of awareness is from relatives & respondents source of awareness is from Television/
friends, 26% of respondents source of awareness is from Media,2% of respondents source of awareness is fromSelf-
Banks correspondents/ Banks, 18 % of respondents source help groups and Grampanchayats Respectively.
Table-4: Type of loan taken

Type of loan Frequency Percentage
Shishu - Less than 50,000 16 32
Kishore- 50,000 to 5, 00,000 24 48
Tarun - 5, 00,000 to 10, 00,000 8 16
Micro credit for Self-help groups - Rs up to 1, 00,000 2 4
Total 50 100
Source: Survey data
From the table four shows types of Mudra loan taken by respondents were took Tarun loan and remaining only 4%
respondents, 48 % of respondents were took Kishore loan, of respondents were took Micro credit through Self-help
32% of respondentswere took Shishu loan, 16% of groups.
Table-5:In which Bank / Micro finance institutions/ NBFCs you taken loan
Source Frequency Percentage
Public sector banks (Excluding RRBs & SBI) 27 54
Private sector banks 3 6
Micro finance institutions 1 2
Regional Rural Banks 12 24
S B I & Associates 4 8
Co-operative Banks 3 6
Total 50 100
Source: Survey data
The above table five shows the loan disbursement 86% of loans and Private sector banks performed very less
performance by different financial institutions, Public compared to public sector banks i.e. only 6% of loans, and
sector banks including Regional Rural Banks and S B I & Co-operative Banks also perform less.
Associates performed well they are collectively disbursed
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HYPOTHESIS TESTING
Table-6: One sample t –test results
Overall Knowledge and awareness level about Mudra Scheme
Std. Error Decision Made
Variable Mean Mean Difference Std. Deviation t Sig.(2-tailed)
Mean (Null)
Overall
3.038 0.03800 0.78113 0.11047 0.344 0.732 Accepted
awareness level
Test value 3, at 95% confidence Interval , n=50 and df= 49
Source: Survey data
The table six presents one sample t-test results of Overall which will positively shape the progress of the economy as
Knowledge and awareness level about Mudra Scheme a whole if implemented as per the priority sector lending
mean=3.038, Standard deviation =0.78133, t=0.344, with schemes to the needy and poor people, it may work as
50(n-1) degrees of freedom 49 and p valve is 0.732. As a important tool for government for developing nation
result p value is more than 0.05, so it is consider through financial inclusion and may boost the Indian
statistically insignificant. Hence null hypothesis is growth rate of economy.
accepted. Thus the overall result highlights that knowledge
BIBLIOGRAPHY
and awareness level among beneficiaries of Mudra Scheme
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Future lending”,Journal of commerce and managemnt
7. FINDINGS thought,10(3), 291-308.
From the analysis it is evident that Male respondents with 2. Kumar S(2017)“Impact of Mudra Yojana on Financial
Inclusion”,International Journal of Science Technology and
age group of 18 to 30 years were aware of Mudra Scheme. Management 6(1),165-169.
22% of respondents were primary education and 20 % of
respondents were post graduate holders it indicates that 3. Ashish Mahajan(2018)“An analysis of performance and Impact of
Mudra yojana under PMMY in the year 2016”, Resaerch Journal
young entrepreneurs are aware about Mudra scheme. 56% of Management Sciences,7(3),1-5.
were OBC beneficiaries and remaining 26% were SC/STs.
4. Parimal Ramesh(2016)“Performance Evaluation of Mudra bank
Majority 68% were Proprietorship these indicates that schemes-a study”,Anveshana‟s International Journal of Research
Own account Enterprises are more in the study. 36% of in Regional Studies, Law , Social sciences, Journalism and
respondents were trading background and 34% of Mangement Practices,1(7),116-120.
respondents were services activity. 30% of respondent‟s 5. Purushottam Arvind petare(2016)“MUDRA:Funding to
gross annual incomewas 50,000 to 1, 00,000 rupees.From Unfunded”,International Journal in Mangement and Social
the t-test it shows low level of awareness about PMMY Science,4(3), 543-547.
scheme among its beneficiaries. Majority of 36% of 6. Ravi R & Roy A(2014)“A study on effects of Micro financing on
respondent‟s source of awareness is from relatives & MSMES in Karnataka”, International Journal of Commerce,
friends,48 % of respondents were took Kishore loan, 32% Business and Management,3(1),161-169.
of respondentswere took Shishu, Public sector banks 7. Roy A K(2016)“Mudra Yojana – A Strategic tool for Small
including Regional Rural Banks and S B I & Associates Business Fianancing”, International Journal of Advance Research
performed well they are collectively disbursed 86% of in Computer Science and Mangement Studies, 4(1),68-72.
loans. 8. Shahid, M.,&Irshad, M.(2016).A Descriptive Study on Pradhan
Manthri Mudra Yojana (Pmmy). International Journal of Latest
8. SUGGESTIONS Trends in Engineering and Technology,Special Issue, March,121–
125.
Based on the above findings the following suggestions
should be given the government should took decision to 9. Sonu, M. S.(2019). MUDRA: AS A HELPING HAND FOR
NEW ENTREPRENEURS. AJMR, 8(4),156–161.
create awareness programmes of Mudra Scheme in rural
and semi urban areas through banks/ financial institutions 10. Venkatachalam S,&Simon, L. M.(2015).Mudra bank to „fund the
and also through Grampanchayats/ Municipality offices. unfunded ‟ small entrepreneurs - A conceptual
framework.International Journal of Multidisciplinary Research
Tarun category performs very low and need to improve by and Development, 2(9),449–450.
providing more and more loans. It is suggested to private
11. Venkatesh, J,&Lavanya Kumari, M. R.(2015)."Performance of
sector banks lend more and more loans under Mudra Mudra Bank: a Study on Financial Assistance To Msme
Scheme and also create awareness campaigns at branch, Sector",IJRESS 5(7), 185-191.
regional and head offices about Mudra scheme.
REPORTS
9. CONCLUSION
1 Annual report Mudra (2015-16):AnnualReportOfMudra2015-
The study concluded that if Mudra scheme is implementing 16MUDRA.pdf
in the right way the by providing loans to right person the 2 NSSO Survey (2013) Ministry of statistics and Programme
scheme. Mudra scheme will add to the well-being of the implementation, Government of India.
entrepreneurs engaged in Micro and small scale industries
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ANALYSIS OF IMPACT OF DEMONETIZATION ON THE AUTOMOBILE
INDUSTRY IN INDIA
* **
Rishu Jain Rohit Kumar
*
Assistant Professor, Shree Atam Vallabh Jain College, Ludhiana
**
Assistant Professor, University College, Ghanaur
ABSTRACT
th
On November 8 , 2016 Prime Minister Sh. Narender Modi took the whole country on surprise with the
announcement of Demonetization of Rs. 500 and Rs. 1000 currency notes. The sudden announcement
of stripping the currency unit of Rs.500 and Rs.1000 of its status as legal tender created a cash crunch in
the economy where in every sector was effected. The present paper aims to analyze the impact of
demonetization on production, domestic sales and export of vehicles in automobile industry in India.
Analysis revealed that although demonetization had affected the automobile sector for short period, yet,
at present, the growth rate of production, domestic sales and exports is either declining or negative as a
result of combined effect of major structural reforms like demonetization, changes in BS emission
standard norms, rise in unemployment in the country, economic and industrial activity slowdown etc.
that had taken place in the last few years. Therefore, the sector has to show great advances in terms of
technology and innovation catering to the needs of customers in the wake of global scenario.
Key words: Demonetization, Automobile industry, Compounded Annual Growth Rate (CAGR)
INTRODUCTION predictable policy regime that enables the industry to
govern in a stable and sustainable manner.
Indian automobile industry is one of the fastest growing
industries in the world and emerging as a global sourcing CONCEPT AND HISTORY OF DEMONETIZATION
hub for automotive industry.It has deep forward and IN INDIA
backward linkages with various other segments of the
Demonetization is the act of stripping a currency unit of its
economy resulting in strong multiplier effect of industrial
status as legal tender. It occurs whenever the government
growth and has emerged as a major contributor to India‟s
feels that there is need to ban or change the existing
Gross Domestic Product (GDP). This dynamic industry
national currency with new notes or coins (Preetha,
currently accounts for almost 7 per cent of country‟s GDP
2019).On November 8th, 2016 Prime Minister Sh. Narender
and employing about 37 million people both directly and
Modi astonished the whole country with the announcement
indirectly. India is emerging as one of the world's fastest
of Demonetization of Rs. 500 and Rs. 1000 currency notes.
growing and largest two wheeler market, 2 nd largest heavy
The sudden announcement of stripping the currency unit of
bus maker, 3rd largest heavy truck maker, 4th largest car
Rs.500 and Rs.1000 of its status as legal tender created
maker and 7th largest commercial vehicle maker in the
panic among the public which further led to liquidity
world (SIAM Annual Report 2018-19. As per data released
crunch in the economy and badly affected those sectors
by the Society of Indian Automobile Manufacturers
where mostly cash transaction take place. This is not the
(SIAM), the gross turnover of the automobile
first time in Indian history that demonetization has taken
manufacturers in India has increased to 67,724 USD
place. Infact demonetization happened in India even before
Million in 2016-2017 from 63,866 USD Million in 2015-
2016. First currency ban had taken place in 1946, when the
2016 showing the growth of 6.04 per cent. The Vision of
currency notes of Rs. 1,000 and Rs. 10,000 were removed
Automotive Mission Plan 2016-26 states that “By 2026, the
from circulation. However, both the notes were
Indian automotive industry will be among top three of the
reintroduced in 1954 with an additional introduction of Rs.
world in engineering, manufacture and export of vehicles
5,000 currency. In 1978, the Moraji Desai Government
and auto components, and will encompass safe, efficient
demonetized Rs. 1,000, Rs. 5,000, and Rs. 10,000 to curb
and environment friendly conditions for affordable mobility
illegal transactions and anti-social activities. While this is
of people and transportation of goods in India comparable
the third time in the Indian history that the Prime Minister
with global standards, growing in value to over 12% of
of India, Mr Narendra Modi, declared demonetization of
India‟s GDP, and generating an additional 65 million jobs.”
INR 500/- and INR 1,000/- currency on 8th November,
The mission further aimed at to become the growth engine
2016. The first two instances of demonetization did not
of „Make in India‟ programme, contribute significantly to
have an impact like the recent one as the currency of such
„Skill India‟ programme, enhance universal mobility,
higher denomination was not accessible to the common
witness the several fold increase in net export of the Indian
people. But this time, the demonetized currency represents
Automotive Industry and to ensure a comprehensive and
86% of the total currency in circulationRawal (2019).
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Therefore, the impact of demonetization can be seen on The review of existing literature revealed that various
various sectors. Since Automobile industry is the key driver studies have been carried out on measuring impact of
of the economy and plays a significant role in country‟s demonetization on economy as a whole and on various
sustainable economic and industrial development. sectors but so far no worthwhile attempt has been made to
Therefore, present study aims to analyze the impact of study the long run and more specific impact of
demonetization on Indian Automobile Industry. demonetization on automobile sector in terms on growth of
production, domestic sales and exports of vehicles.
LITERATURE REVIEW
OBJECTIVES OF THE STUDY
Narayanan (2004),analyzed that growth rate of the firms
are largely determined by non price factors like technology, 1. To study the concept and history of demonetization.
size of the firm, vertical integration, capital intensity and
2. To analyze the impact of demonetization on
the age of the firm. The study also found that the behaviour
automobile industry.
of firms is largely governed by policy regime in which it
operates and this in turns had varied effect on its growth. RESEARCH METHODOLOGY
Katke et al (2017),analyzed the impact of demonetization
The Present study is descriptive in nature. The data was
on Indian car industry and customer buying behavior after
collected from secondary sources such as journals,
demonetization. The study focused on short term results
magazines, published reports, various websites related to
only. The study found that demonetization has registered
negative impact on sales in November, 2016 as the overall automobile industry and by reviewing existing literature.
auto sales dropped by 5.48 per cent as compared to Impact of demonetization on automobile industry is
analyzed on the parameter of growth of production,
previous year. Veerakumar (2017), found that four
domestic sales and exports of vehicles. To analyze the pre
variables namely gender, age, annual income and
demonetization CAGR the period of study includes from
occupation are significantly associated with the impact of
demonetization. Findings also revealed that respondents 2000-01 to 2016-17 and period of 2017-18 to 2019-20 is
believed that demonetization helps to destroy black money, incorporated to study the post demonetization impact on the
industry.
corruption, terrorism etc. Preetha (2019), concluded that
demonetization has greatly impacted Indian Society and TREND OF AUTOMOBILE INDUSTRY IN INDIA
Economy and people have suffered a lot due to poorly
executed plan by government.Rawal (2019), revealed that Demand for automobile has risen at significant rates across
automobile sector faced a short term impact where the segments during last decade. But currently the automobile
purchases were delayed due to scarcity of liquid funds, but industry is facing declining or negative growth rates. The
was neutral for purchases through financing or banked reasons may be slow economic growth rate, low purchasing
cash. Demonetization affected the market for short period power of people, less product and process innovation, less
which led to increase inventory, production cuts & plants customer oriented products, government policies, poor cost
shutdown. management etc. Following are the trend of automobile
industry analyzed on the basis of production, sales and
exports.
Trend of Production in Indian Automobile Industry
Table 1
Category Automobile Production Trend No. of Vehicles
Period Commercial Growth Passenger Growth Three Growth Two Growth

Vehicles % Vehicles % wheelers % wheelers %
(C.Vs) (P.Vs)
Pre Demonitization Period
2000-01 156706 - 640934 - 203234 - 3758518 -
2001- 02 162508 3.7 669719 4.5 212748 4.7 4271327 13.6
2002- 03 203697 25.35 723629 8.1 276719 30.1 5076221 18.84
2003- 04 275040 35 984560 36.1 366223 32.34 5622741 10.77
2004- 05 353703 28.6 1209876 22.88 374445 2.2 6529829 16.13
2005- 06 391083 10.57 1309300 8.22 434423 16 7608629 16.52
2006- 07 519982 32.96 1545223 18 556126 28 8466666 11.28
2007- 08 549006 5.58 1777583 15 500660 (9.97) 8026681 (5.20)
2008- 09 416870 (24.07) 1838593 3.43 497020 (0.72) 8419792 4.89
2009- 10 566608 35.92 2351240 27.88 619093 24.56 10512889 24.68
2010- 11 760735 34.3 2982772 26.86 799553 29.15 13349349 26.98
2011- 12 911574 19.83 3123528 4.72 877711 9.78 15453619 15.76
2012- 13 831744 (8.76) 3233561 3.5 839742 (4.33) 15721180 1.73
2013-14 699,035 (15.95) 3,087,973 (4.50) 830,108 (1.15) 16,883,049 7.39
2014-15 698,298 (0.11) 3,221,419 4.32 949,019 14.32 18,489,311 9.51
2015-16 786,692 12.66 3,465,045 7.56 934,104 (1.57) 18,830,227 1.84
2016-17 810,253 2.99 3,801,670 9.71 783,721 (16.10) 19,933,739 5.86
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CAGR 10.81 11.76 8.80 10.99
Post Demonetization period
2017-18 895,448 10.51 4,020,267 5.75 1,022,181 30.43 23,154,838 15.81
2018-19 1,112,405 24.23 4,028,471 0.20 1,268,833 24.13 24,499,777 5.81
2019-20 752, 022 (32.40) 3,434,013 (14.76) 1,133,858 (10.64) 21,036,294 (14.14)
CAGR (8.35) (7.57) (5.32) (4.68)
Source: SIAM Annual Report; Growth (in percentage) computed from available production statistics
CAGR (in percentage) computed from computed growth production of vehicles showing the negligible impact of
(in percentage) demonetization on overall automobile sector. A major
significant decline can be seen in all the segments in 2019-
In the Pre Demonetization phase production of all the
20. Therefore, after demonetization in 2019-20, at present,
segments showed a tremendous growth and even in 2007-
CAGR registered the highly negative growth rate of 8.35
08 and 2008-09 when the whole country was facing
per cent for C.Vs, 7.57 per cent for passenger cars, 5.32 per
financial crisis the overall performance of the industry was
cent for three wheelers and 4.68 per cent for two wheelers
not so poor. With the combined effect of high interest rates,
as a result of the combined effect of occurrence of
high fuel prices, depressed market conditions and low
reformative events like Demonetization, Changeover to BS
sentiments in consumer confidence the FY 2013-14 faced
IV and introduction to GST etc. Further, the transition to
the negative growth for C.Vs, P.Vs and three wheeler
BS- VI also led to a production cut of upto 20% in
segments. After the demonetization in 2017-18 and 2018-
December, January, February 2020 to manage inventory
19 marginal growth can be seen in P.Vs whereas other
(Excerpt from Indian Auto Industry status Report 2020).
segments registered the significant positive growth in
Trend of Domestic Sales in Indian Automobile Industry

Table 2
Category Automobile Domestic Sales Trend No. of Vehicles
(C.Vs) (P.Vs)
2000-01 136585 - 690562 - 181899 - 3634378 -
2001- 02 146671 7.38 675116 (2.24) 200276 10.1 4203725 15.67
2002- 03 190682 30 707198 4.75 231529 15.6 4812126 14.47
2003- 04 260114 36.41 902096 27.56 284078 22.7 5364249 11.47
2004- 05 318430 22.42 1061572 17.68 307862 8.4 6209765 15.76
2005- 06 351041 10.24 1143076 7.68 359920 16.91 7052391 3.57
2006- 07 467765 33.25 1379979 20.73 403910 12.22 7872334 11.63
2007- 08 490494 4.86 1549882 12.3 364781 (9.69) 7249278 (7.91)
2008- 09 384194 (21.67) 1552703 0.18 349727 (4.13) 7437619 2.59
2009- 10 531395 38.31 1949776 25.57 440368 25.92 9371231 25.99
2010- 11 684905 28.89 2501542 28.3 526024 19.45 11768910 25.59
2011- 12 809532 18.2 2618072 4.66 513251 (2.43) 13435769 14.16
2012- 13 793150 (2.02) 2686429 2.6 538291 4.88 13797748 2.69
2013-14 632,851 (20.21) 2,503,509 (6.81) 480,085 (10.81) 14,806,778 7.31
2014-15 614,948 (2.83) 2,601,236 3.90 532,626 10.94 15,975,561 7.89
2015-16 685,704 11.51 2,789,208 7.23 538,208 1.05 16,455,851 3.01
2016-17 714,082 4.14 3,047,582 9.26 511,879 (4.89) 17,589,738 6.89
CAGR 10.89 9.72 6.68 10.35
Post Demonitization Period
2017-18 856,916 20.00 3,288,581 7.91 635,698 24.19 20,200,117 14.84
2018-19 10,07,311 17.55 3,377,389 2.70 7,01,005 10.27 21,179,847 4.85
2019-20 717,688 (28.75) 2,773,575 (17.88) 636,569 (9.19) 17,417,616 (17.76)
CAGR (8.48) (8.16) .06 (7.14)
Source: SIAM Annual Report; Growth (in percentage) computed from available domestic sales statistics
CAGR (in percentage) computed from computed growth financial year 2013-14, automobile industry registered the
(in percentage) significant positive CAGR of 10.89 per cent for C.Vs, 9.72
per cent for passenger cars, 6.68 per cent for three wheelers
From the above table it can be clearly seen that in 2003-04
and 10.35 per cent for two wheelers before demonetization.
several macroeconomic factors such as GDP growth rate of
In 2016, the declining growth rate can be seen in passenger
over 8 per cent, public investment in infrastructure, excise
vehicle segment due to fear of increased government
duty reduction, reduced interest rates, and growing
scrutiny on high-value transactions and uncertainty in the
penetration of finances in rural and semi-urban areas
government policy. As result of which People postponed
triggered the growth of Automobile industry (SIAM
the purchase and delayed taking the delivery of their
Annual Report 2003-04). In spite of a major decline in
vehicles that temporarily dented the demand for premium
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P.Vs. Further, in case of domestic sales the CAGR of last rural markets, the liquidity crisis, economic slowdown and
three years is highly negative. C.Vs has shown the negative reduced industrial activity affected consumer emotions and
CAGR of 8.48 per cent as compared to 8.16 per cent for hence dented the demand for vehicles (SIAM Annual
P.Vs, .06 per cent positive CAGR for three wheelers and Report, 2018-19). Moreover, the unemployment rate in
7.14 per cent negative CAGR for two wheelers. In 2017-18 India averaged 9.21per cent from 2018 until 2020 (Trading
and 2018-19, the industry registered a robust growth of 20 economies). Therefore, the financial year 2019-20
per cent and 17.55 per cent in C.Vs respectively. Various registered the significant negative growth in all the
factors such as floods in Kerala, weak festival period, segments and led to overall negative CAGR in the post
increase in the cost of vehicle acquisition, low demand in demonetization period.
Trend of Exports in Indian Automobile Industry

Table 3
Category Automobile Export Trend No. of Vehicles
(C.Vs) (P.Vs)
2000-01 13772 - 27112 - 16263 - 111138 -
2001- 02 11870 13.81 53165 96.1 15462 (4.93) 104183 (6.26)
2002- 03 12255 3.24 72005 35.44 43366 180.47 179682 72.47
2003- 04 17432 42.24 129291 79.56 68144 57.14 265052 47.5
2004- 05 29940 71.75 166402 28.7 66795 (1.98) 366407 38.24
2005- 06 40600 35.60 175572 5.5 76881 15.1 513169 40.05
2006- 07 49537 22 198452 13 143896 87.17 619644 20.75
2007- 08 58994 19.1 218401 10.1 141225 (1.86) 819713 32.29
2008- 09 42625 (27.75) 335729 53.72 148066 4.84 1004174 22.5
2009- 10 45007 5.59 446146 32.89 173282 17 1140184 13.54
2010- 11 74043 64.51 444326 (0.41) 269968 55.79 1531619 34.33
2011- 12 92663 25.15 507318 14.18 362876 34.41 1947198 27.13
2012- 13 79944 (13.73) 554686 9.34 303088 (16.48) 1960941 0.71
2013-14 77,050 (3.62) 596,142 7.47 353,392 16.60 2,084,000 6.28
2014-15 86,939 12.83 6,21,341 4.23 4,07,600 15.34 24,57,466 17.92
2015-16 1,03,124 18.62 6,53,053 5.10 4,04,441 (0.77) 24,82,876 1.03
2016-17 1,08,271 4.99 7,58,727 16.18 2,71,894 (32.77) 23,40,277 (5.74)
CAGR 13.75 23.14 19.24 20.97
Post Demonitization Period
2017-18 96,865 (10.53) 7,48,366 (1.37) 3,81,002 40.13 28,15,003 20.29
2018-19 99,933 3.17 6,76,192 (9.64) 5,67,683 49.00 32,80,841 16.55
2019-20 60,713 (39.25) 6,77,311 0.17 5,02,169 (11.54) 35,20,376 7.30
CAGR (20.83) (4.86) 14.80 11.82
Source: SIAM Annual Report; Growth (in percentage) computed from available exports statistics
CAGR (in percentage) computed from computed growth slight growth of 0.17 per cent can be seen in the passenger
(in percentage) cars segment after the decline by 9.64 per cent in 2018-19.
The post demonetization automobile export CAGR of C.Vs
Alignment with the European regulations has acted as the
and P.Vs registered the negative CAGR of 20.83 per cent
boon for Indian Automobile Industry (SIAM Annual
and 4.86 per cent respectively where as three wheelers and
Report 2002-03) as the three wheeler segment showed the
two wheelers registered the significant positive CAGR of
remarkable growth of 180.47 per cent followed by two
14.80 per cent and 11.82 per cent respectively which
wheeler segment that witnessed the robust growth of 72.47
clearly indicates the impact of demonetization on C.Vs and
per cent in FY 2002-03. Pre Demonetization period has
P.Vs. Currently, the overall negative growth rate of export
registered the double digit significant positive CAGR of
of vehicle is of major concern and it directly impacts the
13.15 per cent for C.Vs, 23.14 per cent for P.Vs , 19.24 per
FDI inflow in the country.
cent for three wheelers and 20.97 per cent for two wheelers.
After demonetization, in 2016-17 the off shore demand for CONCLUSION
three wheelers and two wheelers declined by 32.77 per cent
The move of demonetization taken by central government
and 5.74 per cent respectively where as robust growth can
was initiated to curb or eliminate the black money which
be seen in three wheeler and two wheeler segment in 2017-
impacted various sectors of the economy. The impact of the
18 and 2018-19 respectively signifying the short term
measures bought a disruption and ambiguity in short term
impact of demonetization on this sector. The export of
and will show positive implication in longrun. Automobile
commercial vehicle segment declined by 10.53 per cent in
sector was also not untouched by the effects of
2017-18 and revived with the marginal growth of 3.17 per
demonetization in India. Findings revealed that
cent in 2018-19 and again declined by 39.25 per cent in
demonetization has temporarily negatively impacted the
2019-20 which is a major cause of worry. In 2019-20 a
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automobile industry, mainly the passenger vehicle segment.
Society of Indian automobile manufacturers (SIAM) has
called it a temporary disruption. Currently, the automobile
industry is facing the overall negative growth rate due to
combined effect of various reforms such as demonetization,
changes in BS emission standard norms, low GDP,
introduction to GST, depressed economy and fast policy
changing attitude of the government. There is the need that
government should bring policies and impactful reforms
favourable for the revival and significant growth of the
automobile industry. The automobile companies should
really need to think strategically to transform the prospects
in to the customers and boost domestic sales. Policies and
strategies along with the inclusion of latest and improved
technology and increased investment in R&D should be
made in order to increase the demand for vehicles.
REFERENCES
1. Annual Report of SIAM from 2002-2003, 2003-2004, 2004-2005,
2005-2006, 2006-2007, 2007-2008, 2008-2009, 2009-2010, 2010-
2011, 2011-2012, 2012-2013, 2013-2014, 2014-2015, 2015-16,
2016-17 2017-18 and 2018-19
2. Automotive Mission Plan (20016-2026), Department of Heavy
Industry, Ministry of Heavy Industries and Public Enterprises,
Government of India, Accessed on : June12, 2020, Available at:
http://www.siamindia.com/upload/AMP.pdf
3. Katke, Kadambani; Kamat, Abhay; and Kalal, Manish (2017),
“Impact of Demonetization on Indian Automobile Industry: A
Special Reference to Car Industry”, International Journal of
Scientific Engineering and Research, Vol. 5, Iss. 3, pp. 71-74
4. Narayanan, K. (2004), “Technology Acquisition and Growth of
Firms: Indian Automobile Sector under Changing Policy
Regimes”, Economic and Political Weekly, Vol. 39, No. 5, pp.
461-470
5. Preetha, S. (2019), “Impact of Demonetization in Indian
Economy”, Journal of Gujarat Research Society, Vol. 21, Iss. 16s,
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6. Rawal, Navjot (2019), “Demonetization in India: Pre and Post
effect on Indian Automobile Industry”, Global Journal for
Research Analysis”, Vol. 8, Iss. 6, pp. 19-20
7. Report of the Working Group on Automotive Sector for the 12th
Five Year Plan (2012-2017), Department of Heavy Industry,
Ministry of Heavy Industries and Public Enterprises, Government
of India, Accessed on: October 11, 2013, Available at:
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8. Veerakumar, K (2017), “A study on people impact on
demonetization”, International Journal of Interdisciplinary
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WEBSITES
1. www.siamindia.com
2. www.dipp.gov.in
3. www.ibef.org/industry/india-automobiles.aspx
4. https://tradingeconomics.com/india/unemploymentrate#:~:text=U
nemployment%20Rate%20in%20India%20averaged,percent%20i
n%20November%20of%202018.
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GENETIC CLUSTERING TECHNIQUE
*
M. Jagadheeswari
*
Department of Computer Application, Kongunadu College of Arts and Science
ABSTRACT
The privacy of network data and computer resources are limited. Any intruder misuses the information
or resources over the network. IDS help to detect, identify and classify attacks in online or offline mode.
This proposed techniques use anomaly based detection using clustering to find out network attacks. It
uses genetic process. Each of chromosomes mentions the centroid of the k clusters. Proposed system
use two stage fitness function i) Define confidence interval ii) Computer and increase inter-cluster
variance. Accuracy of this method will high to detect and prevent attacks.
Keywords: Clustering, Anomaly based IDS, IDS.
I. INTRODUCTION ii) Matrix is maximized through their genetic
generations.
To significantly increased network, need to security
system. Intrusion detection system is most important issues II) Cluster Analysis:
to solve this problem. An intrusion is a group of actions
Cluster Analysis means finding groups in data. Partition
that protect network system and give confidentiality,
set of samples into group based on similarity measures.
integrity of computer resources.
Dataset D contains P attributes:
IDS aids to monitor the network resources to find out and
prevent the system from any intrusion. Based on the Dn=[A1,A2,A3…Ap]
detection technique, IDS classified into two techniques.
D is partitioned into {Ci, i=1-k} clusters
i) Misuse detection
SMDJ/Ci (A1,A2…Ap)=Max(SMDJ/Ci(A1,A2…Ap)/ i !=L)
ii) Anomaly based detection
Where SM is a similarity measures between Di and Ck .
Misuse detection or signature based IDS compares the
observed activity with predefined rules that defined known These are three partitioning approaches can be used in
attacks. If any match is found, it states the attack. anomaly based IDS.
Otherwise no attacks persist in the network.
1. Hierarchical approach
Anomaly detection defines the estimated normal behavior 2. Bio-mimetic approach
and it monitors the network, if anything deviates from 3. non Hierarchical approach
normal behavior, it states it as attacks. Normalbehavior
defined by some threshold value. Main advantage of Hierarchical approaches uses two method to group the data.
signature based IDS gives best detection result of known 1. Bottom up strategy starts from its own clusters and
attacks. It should not find out unknown attacks. But pairs are merged moved up the hierarchy.
anomaly based IDS find out unknown attacks effectively. 2. Top down approach starts in one cluster, and splits
It increase false positive rate effectively. It increase false performed recursively moves down the hierarchy .
positive rate.
Non-hierarchical approach needs random initialization and
Anomaly based IDS follows two level of abstraction. termination. Bio-mimetic approach, work based on human
i) Define normal behavior biology such as neural network, genetics and immunology.
Those models can easily adapt in both supervised and
ii) Deviation degree measure from normality unsupervised processes.
Anomaly detection technique uses some techniques to Anomaly detection process uses two stage fitness function.
establish the normal behavior, and also mention anything
deviates from normal behavior. 1. Calculate confidence interval to refine clusters.
2. Maximize the covariance matrix.
This paper used clustering based detection techniques 3. Confidenceinterval assesses quality of cluster and
combined with genetic algorithm. This is made up of reduces the partitioning confusion.
chromosomes, which real numbers indicating k cluster
centers is set at randomly. This paper proposes two level of If similarity condition is not satisfied within the confidence
function to get optimal solution. interval, a rejection class is created. This cluster contains
normal and abnormal instances. The main steps of a
i) Cluster filtered based on the confidence value. clustering algorithm are:
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 Initialization: Total number of clusters, cluster A. Genetic algorithm:
centroids
Genetic algorithm (GAs) is robust search procedure and
 Similarity measure: Distance, Density. work based on the natural solution and principles of
 Termination criterion: Stable configuration, iteration genetics. A genetic algorithm starts with chromosomes.
number. The string codification would be bits, numbers or
Each steps of this algorithm depend on the partitioning characters depending on nature and its attributes.
approach. This paper achieved normal and abnormal Each solution has its own fitness values while initialization
clustering process in two levels: of population, fitness value assigned and new generation
Level 0: Initiate several partitioning solutions of data space created through applying genetic operator such as selection
into cluster 1 and cluster 2. and crossover and mutation. This process is repeated until
the solution converges into optimal value or a termination
Level 1: Genetic reassignment. Instances are reassigned to criterion is met.
clusters to maximize the fitness function.
B. Clustering and genetic steps:
III. PROPOSED SOLUTION:
Codification of the chromosomes relate two four process.
This proposed technique centered genetic algorithm and
clustering process. I. String codification
II. Initial clustering
III. Fitness function
IV. Genetic
V. operators
Raw Data POPt=0

Data normalization generation
Thread ch1, Thread ch2 ..Thread

chpopsize
{ Ci (Chj) } i=1..k, j=1..Popsize
B
E  Clustering filtering
Clustering level
S  Between cluster
T measurement
C Ye Terminati N
H s on o
R criterian
O Selection1 Selection2
S
O Crossover
M
E Replac mutation
e
 Clustering level 0 & level 1

 Inter cluster measurements
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i. String codification: p features contains the length of chromosome is equals to
p*k. Every chromosome is an object of p attributes, that
Binary string, character string, floating point numbers and
are randomly picked from the data set.
other data structure are used for chromosome
representation. each and every chromosome is a collection ii). Initial clustering (Level 0):
of real numbers that indicates k cluster centroid.
Cluster of each cluster centroid are forming through
discriminant distance. Object assigned to each cluster
given below:
Chnє POP with {Cj} centroid
Distance (DjP, Ci(Chn)) < Distance (Dj, Cl(Chn)

Euclidean distance define as
dnorm (Di,Dj) = |(Di-Dj)/B|
If data is standardized, its distance will be
d(Dpi,Dpj)=|Dpi,Dpj |
Euclidean distance make distance can be taken account for c) Mutation:

correlation between attributes.
Mutation becomes very important. It does not make a best
3. FITNESS FUNCTION solution to specific problem, but it make a small jump to
avoid similar population.
Fitness function is used to measure the goodness of
chromosome. The optimal solution will be the closest CONCLUSION
chromosome and has greatest fitness value. It evaluate the
This paper proposes genetic clustering technique in an
chromosome through fitness function and find out good
anomaly based IDS. Its main purpose is find-out normal
individuals for next generations. And it discards less suited
homogenous partitioning and anomaly instance. Cluster
ones.
find out rejected instance and calculate confidence interval.
Fitness function evaluate chromosome in two levels: Rejected instances increase while increasing size of data
intrinsic and extrinsic . set. Analyzing and decreasing rejected instance will be the
future improvement in this work.
Intrinsic level:
REFERENCES
Filtering the clusters using a confidence interval then
instance are reallocated if it represent in center. 1. D.E. Denning, “An intrusion-detection model”, Software
Engineering, IEEE Transactions on pp. 222-232, 1987.
Extrinsic Level: 2. C. Kruegel and T. Toth, “A survey on intrusion detection
Assessing chromosome based on its quality. systems”, in TU Vienna, Austria, 2000.
3. J. M. Estevez- Tapiador, P. Garcia- Teodoro, and J.E. Diaz-
4. GENETIC OPERATORS Verdejo, “ Anomaly Detection Methods in wired networks: A
survey and Taxonomy”, Computer Communication , Vol. 27,
a) Selection: pp 1569-1584.
It picks two parents cluster centroid based on fittest 4. S.H. Amer and J. Hamilton, “Intrusion detection systems (IDS)
strategy. This helps to pickup the best individuals selected. Taxonomy- A short Review”, Defence Cyber Security, Vol. 13,
Most popular selection method will be Roulette wheel 2010.
selection, tournament selection. 5. V. Chandola, A. Banerjee, and V. Kumar, “Anomaly detection:
A survey”,, ACM Computing Surveys (CSUR), Vol. 41, pp
b). Crossover: 15, 2009.
Crossover is a process of picking two parent and producing 6. P. Gupta and S.K. Shinde, “Genetic algorithm technique used
a child from them. Genetic algorithm use this method to to detection intrusion detection”, in Advances Computing and
Information Technology, ed. Springer, 2011,pp. 122-131.
achieve a solution space.
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7. S. Sivanandam and S. Deepa, Introduction to genetic
algorithms: Springer Science & Business media, 2007.
8. Z. Michalewicz, Genetic algorithms + data structures =
evolution programs: Springer Science & Business media, 2008.
9. C.C. Coello, G.B.Lamont, and D.A. Van Veldhuizen,
Evolutionary algorithms for solving multi-objective problems:
Springer Science & Business media, 2007.
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EMPLOYEE MOTIVATION IN THE SERVICES SECTOR: PYTHON
PROGRAMMING APPROACH
* ** ***
Priyanka Kumari Rajesh Singh Priyanka Rai
*
Student, Department of Humanities and Management Science, Madan Mohan Malaviya
University of Technology, Gorakhpur, Uttar Pradesh.
**
Assistant Professor (Contract), Department of Humanities and Management Science, Madan
Mohan Malaviya University of Technology, Gorakhpur, Uttar Pradesh
***
Malaviya University of Technology, Gorakhpur, Uttar Pradesh.
INTRODUCTION
High productivity and better services are the long-lasting increase employee performance, leading to improved
benefits of employee motivation. Motivated employees are service delivery and economic growth. Some may think
an important asset that places great value on strengthening that wages are the most fundamental issue to measure
and maintaining the company’s business and financial employees' effort in their performance and ability.
growth. A well-motivated employee stays with the Individual performance produces better service delivery to
company in every situation. In addition to the various enhance economic growth. The person who earns a higher
modes of motivation, popular motivators include job salary should put more effort into his work and provide
design, job nature, and incentives and rewards for better public service. Motivation and employee
employees, which play a decisive role in determining performance lead to economic growth, as motivation
employee longevity, productivity, and efficiency. motivates employee interest and promotes greater efforts
for products and services that promote economic growth.
Employee motivation is not a new idea to increase the
profitability of a company this idea comes since long back, OBJECTIVES OF THE RESEARCH
due to employer and employee relations.Motivated
The AHP Fuzzy has been used for employee motivation in
employees increase productivityand allow a company to
the service sector. It uses several criteria of employee
achieve a higher level of production.Some benefits of
motivation.
employee motivation areemployee commitment increases,
employee satisfaction get improved, progress in employee A sophisticated user-friendly computer programmer in
development, employee efficiency increases,workplace python has been developed to capture the response of
productivity increases, turnover, and absenteeism reduce, employee motivation in the service sector industry. By
creativity and innovation increases, company’s profile gets using this python program employee motivation become
enhanced,qualities of a product or servicesis higher, easier and quicker when the data is fuzzy.
improved financial performance.
Study the reason, why employees should be motivated, and
Motivation is an internal strength or a kind of force that what are the important factors to motivate employees to get
pushes employees towards performance. If there is no maximum output.
desire and ambition, then there is no motivation, because
motivation is very much related to desire and ambition. RESEARCH GAP
Researchers believe that employees have intrinsic and Most of the studies mentioned above showed that there
extrinsic motivation. Intrinsic motivation means acting were many thousands of stimuli that could be categorized.
from the inside out and is naturally associated First are the internal factors including efficiency,
withhappiness and interest. Extrinsic motivation works in a conditions, job security, employee loyalty, performance
certain way that leads to perceived value. It is a challenge awareness, promotion, and career development, employee
for managers and leaders to keep their people and engagement in decision-making, human relationships and
employees satisfied and motivated. Therefore, every friendly community actions, leadership, workplace,
manager should know the requirements and needs of his passionate work, tangible objects such as awards,
employee and what they are looking for. To achieve and certificates, gifts, and financial incentives such as bonuses.
maintain high quality, low time, and risk win and products, The second category is external factors such as good
employees need to be motivated and satisfied. wages, grants, free food, accommodation, and travel
There are many ways through which motivated employees expenses.
contribute to national growth and development. Also, Hence, the current research aims at throwing light into the
employee motivation and increased job satisfaction process of employee motivation in the service sector by
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using python programming. My research is different from synthesis of priorities, and comparative judgment. The
all the above because I am using python programming for AHP approach attempts to evaluate the effect of elements
employee motivation which is unique and innovative. This atthe least position on the whole ranking.
technique has never been used before.
Hierarchy is the summary of the structure of a system to
EMPLOYEE MOTIVATION IN THE SERVICE study the impact on the system as a whole and their
SECTOR functional interactions of its components.
The motivating characteristics of every employeeshould be Fuzzy Sets and Fuzzy Number
recognized by the manager and to increase their self-
Mathematically, thefuzzy set 𝐴𝐴 isknown as membership
confidence they should provide some privilege after their
function μÃ (x), which gives each X object in place of the
performance because employees will be inspired to attain
X expression the real number in the interval zero to one.
their target and appreciate the feeling of victory when they
believe they will be awarded for their excellent work. Fuzzy Number
In the service sector, rewards for completing tasks are very The fuzzy intervals are described in an actual number R,
important. For example, bank employees are motivated by the fuzzy number is demonstrated as the fuzzy set. Fuzzy
a commission that exceeds their standard or is given a intervals are expressed as [a1, a2, a3]at both ends a1 and a3
dividend when the sales rate exceeds expectations, or the and vertex a2.
manager thanks the employee for his or her early
recommendation of all employees. Therefore, there are These all are fuzzy sets, and they meet the following
various ways in which a manager can encourage them; they requirement.
should focus on the more important things that can  normalized fuzzy set.
motivate their subordinates for a long time. When  convex fuzzy set
employees come to see that their boss is right in their words  its membership function continues one by one.
and encourage them more effectively, they will agree to put  Fuzzy number (fuzzy set) has to be
more effort into their work. convexandnormalized the qualification of
normalization this means the highest membership
value is one there exits xɛR,μÃ(x)=1.Fuzzy set was
RESEARCH METHODOLOGY described as a real number.
Fuzzy AHP - AHP theory is based on certain steps of
problem-solving. It is the principles of decomposition, the
Table 1: Operation performed in Fuzzy Number
A= [p1, p2], B= [q1, q2] for all p1, p2, q1, q2ɛR
(i) [p1, p2 ] Subtracted by (-) [q1, q2 ] Equals to(=) [p1- q2 ,p2- q1 ]
(ii) [p1, p2 ] Added by (+) [q1, q2 ] Equals to(=) [p1+ p2 ,q1+ q2 ]
(iii)[p1, p2 ] Divided by (/) [q1, q2 ] Equals to(=) [p1/ q2,p2/ q1 ]
(iv) [p1, p2 ] Multiplied by (●) [q1, q2] Equals to(=) [p1● q1 ,p2● q2 ]
(v) Inverse [p1,p2 ]-1 Equals to(=)
[ ]
TRIANGULAR FUZZY NUMBER membership function or truth function is represented by

̃ ( )and it could be determined as
The representations of triangular fuzzy number are done by
𝐴̃ and it could be determined by a triplet (u, v, w). The
̃( )={ }
FACTORS FOR EMPLOYEE MOTIVATION monetary. Recognition is to appreciate or praise the good
work of employees.
1. Reward and recognition
The lifespan of recognition is limited; if recognition is not
Reward and recognition is an important factor for the
associated with reward its value will be reduced.
motivation. A reward is given to the employees who make
efforts to achieve the objective of the organization. The
reward can be given in two ways monetary and non-
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2. Development working conditions. By concentrating on the whole
working culture, support the growth of employees, and
Development is essential for motivating employees.
maintaining the employee’s safety positive work
Development helps the employees to improve their skills,
environment of an organization can be achieved.
knowledge, etc. to achieve the ultimate objective of the
organization. It also makes employees self-reliant. When FUZZY ANALYTICAL HIERARCHY PROCESS
the manager shows genuine interest in their development, (FAHP)
employees appreciate and value them; it shows that the
Zadeh (1965) and Bellman and Zadeh (1970) have
organization trust the employee and want growth of the
discovered the introduced approach Fuzzy set theory that is
employees within the organization.
termed as the method of decision making in a fuzzy
3. Leadership surrounding.Saaty (1980)has suggested the AHP, which is
described as a method of multi-criteria decision making for
A good leader can influence the employee for performing
an unorganized and complex issue that uses a structural
in the right manner. A great leader knows what motivates
(ranking) pattern having levels of criteria, alternatives,
employees, how to inspire, encourage, and have a clear
possible sub-criteria, goals. Any of the multiple Criteria
vision. A leader must have the right expectations, give
Decision Making(MCDM) methods fuzzy is known as
credit, and congratulate their employees.
the(AHP) Analytical Hierarchy Process. The fuzzy
4. Work-life balance Analytical Hierarchy Process depends on the fuzzy (vague)
concept suggested by LoftiZadeh. Fuzzy sets and logic are
Balancing between personal and professional life is known uncertain systemsofpowerful mathematical tools in many
as work-life balance.Work-life balance try to schedule the
economic, social, and economic fields. This applies to
time for work and various activities. If employees do not
various applications such as logistics, transport, city
have a balance in a healthy lifestyle, they feel less
designing, marketing,public political affairs, education,
motivated. finance; this broad application area is the part of
5. Work environment economics. The FAHP’s bestapproach is that when
examiners compute each environmental product of the
The work environment is a surrounding in which the design with different linguistic terms (e.g. high, very high),
employees do their work. Day-to-day productivity is criteria,or instead of providing a correct numerical value
affected by all the elements of working environments, fuzzy number can be assigned. The Triangular fuzzy
including the steps that should be taken to complete the numbers have been appliedin this paper. The three actual
work. There are three aspects of the work environment numbers known as Triangular fuzzy number Ñ expressed as
these are- physical environment, company culture, and (L, M, and N).
Employee Motivation Factors
Rewards and Development Leadership Work life Work

recognition (D2) (D3) balance environment
(D1) (D4) (D5)
Fig. 1: Hierarchical Structure
STEP 1.PERFORMANCE SCORE WILL BE alternatives and the criteriausing a linguistic variable. The
COMPARED following table lists the equivalent triangular fuzzy
numbersand linguistic variable.
To denote the comparative strength of every single pair of
elements in the corresponding hierarchy ( ̃ ̃ ̃ ̃ ̃ ) the
triangular fuzzy numbers areused. Make a comparison of
Table 2: Membership Function belonging to Fuzzy Number.

LINGUISTIC VARIABLE TRIANGULAR FUZZY NUMBER
VALUABLE (9, 9, 9)
VERY STRONGLY VALUABLE (6, 7, 8)
STRONGLY VALUABLE (4, 5, 6)
FAIRLY VALUABLE (2, 3, 4)
EQUALLY VALUABLE (1, 1, 1)
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STEP 2: CONSTRUCTING THE FUZZY by ̃ through triangular fuzzy numbers. Triangular
COMPARISON MATRIX: number demonstration is denoted by (~).For example, the
priority of 3rd criterion over 2nd criterion is denoted by ̃ .
Comparison matrix is ̃ wherethe priorities (comparative
value) of the ith criterion over the jth criterionare represented
̃̃ ̃
̃̃ ̃
̃
[̃ ̃ ̃ ]
STEP 3: GEOMETRIC MEAN BELONGING TO STEP 6: CALCULATION FOR EVERY SINGLE

FUZZY COMPARISON VALUES OF EVERY ALTERNATIVE
SINGLECRITERION.
To find the criterionweights of every single alternative
The geometric mean concerning fuzzy comparison values multiply the matrix of estimate ranking by the vector of
of every single scale is calculated as follows, priority weights and adding overall criteria. Denoted
where ̃ represents a triangular number. withthe standard mathematical statement.
̃ =(∏ )1/nwhere i is; i= 1,2, 3……𝑛……. (1) Weighted assessment for alternatives K= priority
weight i*assessment rating ie, i equals to(=) 1, 2 …n.
STEP 4: FUZZY WEIGHTS OF EVERY SINGLE where n is a total number of criteria. After evaluating the
CRITERION weight for every single alternative, the determined total
To find the fuzzy weight of criteria ̃multiply every single consistency index for all judgments is that it should be less
̃ with this reverse vector. Weight of every single criterion than 10 %(< 0.1).
=̃ (̃ ̃ ̃ ̃ )-1 RESULT AND DISCUSSION
(i.e.) ̃= ( , )……………. (2) Fuzzy AHP methodology has been introduced in this paper.
Under every single criterion is paired off for alternatives
STEP 5: NORMALIZATION OF THE MATRICES
and criteriaare made by decision-makers.According to the
Normalization is calculated by paired comparison matrix geometric mean approach these comparable values were
according to criterion weights, and before calculating the converted into triangular fuzzy numbers. The model was
criterion weights and matrices to get alternant for every tested in Tata Motors, Lucknow.The primary data was
single criterion are also done. The measure of inconsistency collected from the experts.
is known as the consistency index (CI) and the variance
from consistency is given by the following equation. WEIGHTS OF CRITERIA
According to the expert’s opinion, the pairwise comparison
CI= matrix of the criterion is given below.
Table 3: Fuzzy Comparing Matrix of Criterion is related to
the Overall Objective
Criterion Rewards and Development Leadership Work-life balance Work environment
recognition
Rewards and (1,1,1) (1,1,1) (2,3,4) (1/6,1/5,1/4) (4,5,6)
recognition
Development (1,1,1) (1,1,1) (6,7,8) (1,1,1) (6,7,8)
Leadership (1/4,1/3,1/2) (1/8,1/7,1/6) (1,1,1) (1/6,1/5,1/4) (2,3,4)
Work life balance (4,5,6) (1,1,1) (4,5,6) (1,1,1) (6,7,8)
Work (1/6,1/5,1/4) (1/8,1/7,1/6) (1/4,1/3,1/2) (1/8,1/7,1/6) (1,1,1)
environment
Through equation (1) we can compute the geometric mean values for rewards and recognition criteria is determined as
of fuzzy comparability of every single criterion.In the below
above table, ̃ is a geometricmean of fuzzy comparable
̃ = (∏ ) [( ) ( ) ( ) ]
[1.0592; 1.2457; 1.4310]

The geometric mean of all criteria is shown in table (4)
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Table 4: For All Criterion, the Geometric Mean of Fuzzy Comparison’s Values is
Gi
F1 1.0592 1.2457 1.4310
F2 2.0477 2.1779 2.2974
F3 0.4884 0.4911 0.6598
F4 2.4915 2.8094 3.1037
F5 0.2305 0.3342 0.3222
Total 6.3172 7.0583 7.8140
Reverse 0.1583 0.1417 0.1280
Increase 0.1280 0.1417 0.1583
Now consider the fuzzy weight of the D1 criterion ̃ isgiven by the equation (2)
̃=[(1.0592 0.128); (1.2457 0.14); (1.4310 0.158)]
=[0.1356; 0.1765;0.2265]
NM1= = 0.1795
Table 5: For Every Single Criteria Fuzzy Weight( ̃ ), Normalized Weight (Ni), Non-Fuzzy Weight (NMi) are:
Wi NMi Ni
F1 0.1356 0.1765 0.2265 0.1795 0.1768
F2 0.2621 0.3086 0.3637 0.3114 0.3068
F3 0.0625 0.0696 0.1044 0.0788 0.0777
F4 0.3188 0.3980 0.4913 0.4027 0.3967
F5 0.0295 0.0473 0.0510 0.0426 0.0420
Total 1.0151
In the above table (5), N1is calculated by
N1 ∑
0.1768
Weights of Alternatives related to Criterion.

Now the pair-wise comparisons of the alternatives are related to every single criterion. Let R1, R2,R3 are three locations
around Lucknow.
Table 6: Fuzzy Comparability of Alternatives relative to D1
Alternatives R1 R2 R3
R1 (1,1,1) (8,7,6) (4,3,2)
R2 (1/6,1/7,1/8) (1,1,1) (1/2,1/3,1/4)
R3 (1/2,1/3,1/4) (4,3,2) (1,1,1)
Regarding “Rewards and recognition criteria” the geometric mean of comparingthe value of alternatives is shown below
the table.
Table 7: Geometric Mean (̃)of Fuzzy Comparing Values of Alternatives is relative to (D1) Criteria.
Gi
R1 2.2894 2.7589 3.1748
R2 0.3150 0.4368 0.4368
R3 0.7937 1.0000 1.2599
Total 3.3981 4.1957 4.8715
Reverse 0.2943 0.2383 0.2053
Increase 0.2053 0.2383 0.2943
Now consider the fuzzy weight, non-fuzzy weight, normalized weightis shown in table (8).
Table 8: Fuzzy Weight( ̃ ),Normalized Weights (Ni), Non–fuzzy Weight (NMi), of Every single Alternative is
relative to D1 Criteria.
Wi NMi Ni
R1 0.4700 0.6576 0.9343 0.6873 0.6585
R2 0.0647 0.1041 0.1285 0.0991 0.0949
R3 0.1629 0.2383 0.3708 0.2573 0.2466
Total 1.0437
Now consider fuzzy comparability of alternative is relative to “Development” is shown in below the table (9).
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Table 9: Fuzzy Comparability of Alternatives is relative to D2
R1 (1,1,1) (1/4,1/5,1/6) (1/6,1/7,1/8)
R2 (6,5,4) (1,1,1) (1/4,1/5,1/6)
R3 (8,7,6) (6,5,4) (1,1,1)
Now consider fuzzy comparability of alternatives relative to “Leadership” is shown in table (10)
R1 (1,1,1) (1/2,1/3,1/4) (1/4,1/5,1/6)
R2 (4,3,2) (1,1,1) (1/2,1/3,1/4)
R3 (6,5,4) (4,3,2) (1,1,1)
Now consider fuzzy comparability of alternatives relative to “Work-life balance” is shown in table (11)
R1 (1,1,1) (8,7,6) (1,1,1)
R2 (1/6,1/7,1/8) (1,1,1) (1/6,1/7,1/8)
R3 (1,1,1) (8,7,6) (1,1,1)
Now consider fuzzy comparability of alternatives relative to “Work environment” is shown in table (12)
R1 (1,1,1) (4,5,4) (1/4,1/5,1/6)
R2 (1/4,1/5,1/6) (1,1,1) (1/6,1/7,1/8)
R3 (6,5,4) (8,7,6) (1,1,1)
Relative weights of each alternative regarding each criterion calculated values are shown in the table (13).
Table 13: Regarding each Criteria Weights of Every Single Alternative are
WEIGHT R1 R2 R3
D1 0.1768 0.6585 0.0949 0.2466
D2 0.3068 0.0675 0.2200 0.7125
D3 0.0777 0.1073 0.2632 0.6295
D4 0.3967 0.4663 0.0673 0.4663
D5 0.0420 0.2200 0.0675 0.7125
AGGREGATED RESULTS 0.3397 0.1343 0.5260
R1
According to every single criterionaggregated results of
=(0.1768×0.6585)+(0.3068×0.0675)+(0.0777×0.1073)+(0.
each alternative are determined. A score of the first
3967×0.4663)+(0.0420×0.2200)= 0.3397
alternative through table no (13) is.
Table 14: Scores of the Alternatives
Alternatives Scores Rank
R1 0.3397 2
R2 0.1343 3
R3 0.5260 1
According to the scores of alternatives, the 3rd alternative priorities of choice is an effective tool for defining
has the maximum score. So it is concluded that R3 is the priorities. The top alternative is determined by the priority
best motivation factor concerning all five criteria. weights of alternatives and criteria.
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10. Wang, Y.M. and Chin, K.S. Fuzzy analytic hierarchy process :A
logarithmic fuzzy preference programming methodology.
International Journal of Approximate Reasoning 52 (4) (2011) 541-
553.
11. Ayağ, Z. A fuzzy analytic hierarchy process tool to evaluate

computer-aided manufacturing software alternatives. TJFS: Turkish
Journal of Fuzzy Systems (e ISSN : 1309–1190), An Official Journal
of Turkish Fuzzy Systems Association 5 (2) (2014) 114-127.
156 | P a g e
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A STUDY ON AWARENESS LEVEL OF PRADHAN MANTRI MUDRA YOJANA IN

Article · July 2021

The user has requested enhancement of the downloaded file.

EDITORIAL BOARD ISSN No: 2278-7925

EDITORIAL ADVISORY BOARD

Dr. Manisha Gupta

1. IMPACT ASSESSMENT OF COVID-19 (PANDEMIC) ON SELECTED PLAYERS IN ORGANIZED

2. A STUDY ON THE SPECIAL ISSUES OF CULTURAL TOURISM IN KERALA

3. ETIOLOGY OF CHILD LABOUR: ECONOMIC CONSTRAINTS AND JURISPRUDENTIAL NECESSITY

4. A STUDY ON SERVICE QUALTY OF SELECTED HEALTH INSURANCE INDUSTRY IN PUNJAB AND

5. EMPLOYEE DEVELOPMENT AND QUALITY OF LIFE: TLF APPROACH

6. ASSESSMENT OF MD&A READABILITY USING FLESCH READABILITY FORMULA: A STUDY OF

7. AN EMPIRICAL STUDY OF PRODUCT EVALUATION BY INDIAN CONSUMERS WITH REFERENCE TO

8. A REVIEW ON DEVELOPMENT OF SMART CHATBOT USING NATURAL LANGUAGE PROCESSING

9. FEATURE BLENDING FOR AUGMENTED CLASSIFICATION ACCURACY WITH RESTRICTED

10. AN EXPLORATORY STUDY ON THE DIMENSIONS OF WOMEN’S ECONOMIC EMPOWERMENT

11. SCHOOL EXPERIENCE PROGRAMME: PATHWAY FOR PROFESSIONAL DEVELOPMENT OF

12. ENDURANCE OF OEMS THROUGH EFFECTIVE HRD CLIMATE

14. EVALUATING WORKFORCE EXPECTATIONS AND SATISFACTION WITH TRAINING PRACTICES OF

15. ATTRIBUTES OF BUYING BEHAVIOUR FOR FASHION APPAREL: AN EXPLORATORY STUDY

16. A REVIEW ON PREDICTING STUDENT’S GRADE USING MACHINE LEARNING TECHNIQUES

19. AN ANALYSIS BETWEEN THE RELATIONSHIP OF PERCEIVED ORGANIZATIONAL POLITICS AND

20. AN EMPIRICAL STUDY ON WORK ENGAGEMENT OF REMOTE WORKFORCE

21. ASSESSMENT OF EMOTIONAL INTELLIGENCE AND ORGANIZATIONAL COMMITMENT: A

22. DEEP LEARNING FOR DIGITAL PATHOLOGY USING REPRESENTATION LEARNING

23. A CRITICAL REVIEW OF THE APPLICATION OF MASLOW'S MOTIVATION THEORY IN INDUSTRY

24. WATER RESOURCE MANAGEMENT AND SUSTAINABLE DEVELOPMENT IN INDIA: AN OVERVIEW

27. A STUDY ON AWARENESS LEVEL OF PRADHAN MANTRI MUDRA YOJANA IN SHIVAMOGGA

28. ANALYSIS OF IMPACT OF DEMONETIZATION ON THE AUTOMOBILE INDUSTRY IN INDIA

29. GENETIC CLUSTERING TECHNIQUE

30. EMPLOYEE MOTIVATION IN THE SERVICES SECTOR: PYTHON PROGRAMMING APPROACH

ANALYSIS AND INTERPRETATION: - Tourism/hotels/restaurants as Industry in India is “least

Table No.2: Key Industries Impacted due to COVID

Table 1Variables of Paradise

Table 2 Model Fit Indices for CFA –Paradise of Cultural Tourism

Table 3The Regression Coefficients –Paradise of Cultural Tourism

(Source: Primary Data)

Figure 1Path Diagram on Paradise

Table 6The Regression Coefficients –Imperialism of Cultural Tourism

Figure 2 Path Diagram on Imperialism

Table 7 Variables of Host-Guest Relation

Figure 3 Path Diagram on Host –Guest Relationship

Special Issues related

Figure 4 Special Issues(combined) related to Cultural Tourism

6. CONCLUSION 3. Melanie K. Smith (2003), Issues in Cultural Tourism

Present health insurance company has up to date 206 184 7 36 2

Present health insurance company does not tell 82 222 26 88 17

The average responsiveness score of 3.70 (SD=1.08) as ASSURANCE

Present health insurance company does not give individual 86 202 40 81 26

1. Two-sided equivalent detail Taguchi work

3. One-sided maximum-specification limit function

F(x) = D(t-n)2 (1)

Orthogonal array selection:

Table III.The measured value of Completion Time

EXPERIMENTATION DETAILS AND ASSESSMENT OF DATA:

CONCLUSION 10. Ursula Hoyningen-Süess David Oberholzer René

* p<0.01, p<0.05, * p<0.1

Decline -0.0018 0.0303 0.149* 0.184***

ROA -0.0108* -0.0030* -0.0003 -0.0138***

Constant 0.534* -0.0215 -0.0566* 0.505***